The Carlyle Group, a multinational private-equity group, has made an offer for Forgital Group reported to be in the range of €900 million to €950 million (est. $1 billion to $1.06 billion). The offer follows a long proposal and consideration period, during which time Carlyle held an exclusive bidding option that was allowed to expire late in 2018.
Forgital produces hot-rolled rings and larger-dimension die forgings in steel and specialty 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.
Forgital is majority owned by private investors, who had previously considered a public share offering. Other equity funds also were invited to bid before Carlyle emerged as the preferred investor.