Real assets fund manager Stonepeak is acquiring Forgital Group, a manufacturer of forged components for industries such as aerospace, defence, space and power generation, from Carlyle.
IPE Real Assets understands that Stonepeak has agreed to pay €1.5bn to buy Forgital in a deal expected to close in the second quarter of 2025.
The Carlyle Europe Partners V and Carlyle Partners VII funds acquired Forgital in 2019 in a deal that valued the Italy-based manufacturing company at €1bn.
Founded in 1873, Forgital has a global workforce and operates in Europe and North America, with nine facilities located in Italy, France and the US.
Conor Sutherland, managing director at Stonepeak, said: “Forgital is an integral link in the global aerospace supply chain and a trusted partner to leading aerospace manufacturers and industrial customers. We have high conviction in long-term aerospace end-market demand and believe Forgital is positioned to benefit from these tailwinds.
“We admire Forgital’s strong business model, manufacturing excellence and distinguished reputation among its customers for quality and reliability.”
Marco De Benedetti, chair of Italy at Carlyle, said: “We are pleased to have supported Forgital through such a transformative period for the business. As a result of the investment, partnership and the team’s sector expertise, we believe Forgital is well placed to capitalise from long-term growth in its key end-markets of aerospace and defence and industrial applications, and I have no doubt the business will continue to build upon its strong position today as a European leader in specialised forged products.”
Meddah Hadjar, CEO of Forgital, said: “I would like to thank the Carlyle team for their invaluable support, expertise and guidance over the last few years, which have been a significant period of change and development for Forgital. Stonepeak represents an ideal partner for the next stage of Forgital’s growth, bringing deep experience, global relationships, and operational expertise within sectors and businesses that are mission-critical to the supply chain.
“We are excited to leverage these resources to support our customers, and to partner with Conor and the rest of the Stonepeak team as we continue to develop Forgital’s manufacturing excellence and global capabilities.”
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