Forgital FLY exhibit FLY
Forgital produces hot-rolled rings and larger-dimension die forgings in steel and specialty alloys in Italy and France.

Carlyle Completes $1B Forgital Purchase

Forger/ring-roller seen benefitting from equity group’s aerospace- and industrial-sector expertise

The Carlyle Group, a private-equity holding company, agreed to a full takeover of Forgital Group for approximately €1 billion (est. $1.13 billion.) The sellers are Nadir, Roberto, and Giorgio Spezzapria, who are fifth-generation members of the company’s founding family and the majority stakeholders. A minority share is held by Fondo Italiano d’Investimento and managed by Neuberger Berman.

The purchase had been in negotiation for several months, according to several reports.

The acquisition would be completed in the second half of this year, subject to customary approvals and closing requirements, Carlyle announced.

In its announcement, Carlyle indicated the current Forgital leadership would remain in place. “In partnership with the experienced management team and talented workforce, we look forward to supporting Forgital’s expansion through the creation of a global growth platform, notably in the aerospace sector,” according to Filippo Penatti, managing director of Carlyle Europe Partners.

The families of Nadir and Roberto have an option to reinvest in the company at closing.

Forgital produces hot-rolled rings and larger-dimension die forgings in carbon, stainless, and specialty steel alloys; as well as aluminum, nickel, cobalt, copper, and titanium alloys, for civil aerospace, oil-and-gas, power transmission, power generation, and general industrial use. It also has ring-rolling operations in France, and specialty finish-machining operations in Italy and France.

The sellers expressed confidence that Carlyle’s aerospace- and industrial-sector expertise and global network would promote Forgital’s continued growth.

“We are all excited to have Carlyle investing in Forgital to start a new phase of growth and development for the company which will be supported by the passion and full commitment of our management team and all our employees, whom we would like to thank for all their commitment to date,” according to a Spezzapria family statement.

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