KPS Capital Partners To Acquire Siderforgerossi Group S.p.A.
PR90002
NEW YORK, June 9, 2021 /PRNewswire=KYODO JBN/ --
- Creates Global Forged Products Platform
- Marks Second Mid-Cap Fund Acquisition in Italian-based Company
KPS Capital Partners, LP ("KPS") announced today that it has signed a
definitive agreement to acquire Siderforgerossi Group, S.p.A.
("Siderforgerossi" or the "Company"), a global manufacturer of large diameter
forged products. Upon completion of the transaction, Siderforgerossi will
become the fifth acquisition completed by KPS Special Situations Mid-Cap Fund
(the "Mid-Cap Fund") and KPS' second Mid-Cap Fund acquisition in Italy in
2021.
Logo - https://mma.prnewswire.com/media/1023167/KPS_Logo.jpg
Siderforgerossi is a leading, vertically integrated manufacturer of rolled and
forged products with capabilities across the manufacturing spectrum, including
ring-rolled, open die and closed die forging capabilities. The Company is
specialized in large diameter forged products and primarily serves the Wind
Power, Oil & Gas, Earth Moving, Automotive, Conventional & Nuclear Power
Generation and Aerospace end-markets across Europe and India. Siderforgerossi
provides customers with a vertically integrated offering including heat
treating, destructive and non-destructive testing and machining. The Company is
headquartered in Veneto, Italy and operates nine manufacturing sites in Italy
and three additional sites in India.
Ryan Harrison, a Partner of KPS Mid-Cap Investments ("KPS Mid-Cap"), said,
"Siderforgerossi is a market leader with unmatched manufacturing capabilities
and a differentiated quality control and customer service track record. We are
excited for this investment to form the basis of a global forged products
platform that KPS and the Siderforgerossi team intend to grow both organically
as well as through acquisitions. We look forward to working with Chief
Executive Officer Adriano Zambon, the Company's talented management team and
dedicated employees to accelerate growth opportunities and create value by
leveraging KPS' very successful, multidecade experience in investing in the
metals and forged products industries."
Adriano Zambon, Chief Executive Officer of Siderforgerossi, said, "We are
excited to operate under KPS' ownership as the Company enters this next phase
of development. KPS' demonstrated track record of driving manufacturing
excellence will position Siderforgerossi to capitalize on meaningful growth
opportunities, while maintaining our focus on quality, safety and customer
service. Under KPS' ownership, we will develop a range of growth and
operational initiatives to build upon our long and successful history."
Financial terms of the transaction were not disclosed. Intesa Sanpaolo S.p.A.
– IMI Corporate & Investment Banking Division served as lead financial advisor,
Houlihan Lokey served as debt capital markets advisor, and Paul, Weiss,
Rifkind, Wharton & Garrison LLP served as legal counsel to KPS.
Mediobanca – Banca di Credito Finanziario S.p.A. served as lead financial
advisor and NTCM Studio Legale served as legal counsel to selling shareholders
of Siderforgerossi and to the Company.
About Siderforgerossi Group
Siderforgerossi is a leading, vertically integrated manufacturer of rolled and
forged products with capabilities across the manufacturing spectrum, including
ring-rolled, open die and closed die forging capabilities. The Company is
specialized in large diameter forged products and primarily serves the Wind
Power, Oil & Gas, Earth Moving, Automotive, Conventional & Nuclear Power
Generation and Aerospace end-markets across Europe and India. Siderforgerossi
provides customers with a vertically integrated offering including heat
treating, destructive and non-destructive testing and machining. The Company is
headquartered in Veneto, Italy and operates nine manufacturing sites in Italy
and three additional sites in India. For additional information, please visit
www.siderforgerossi.com.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS
Special Situations Funds, a family of investment funds with approximately $12.8
billion of assets under management (as of March 31, 2021). For nearly three
decades, the Partners of KPS have worked exclusively to realize significant
capital appreciation by making controlling equity investments in manufacturing
and industrial companies across a diverse array of industries, including basic
materials, branded consumer, healthcare and luxury products, automotive parts,
capital equipment and general manufacturing. KPS creates value for its
investors by working constructively with talented management teams to make
businesses better, and generates investment returns by structurally improving
the strategic position, competitiveness and profitability of its portfolio
companies, rather than primarily relying on financial leverage. The KPS Funds'
portfolio companies have aggregate annual revenues of approximately $10.9
billion, operate 149 manufacturing facilities in 22 countries, and have
approximately 35,000 employees, directly and through joint ventures worldwide.
The KPS investment strategy and portfolio companies are described in detail at
www.kpsfund.com.
KPS Mid-Cap focuses on investments in the lower end of the middle market that
require up to $100 million of initial equity capital. KPS Mid-Cap targets the
same type of investment opportunities and utilizes the same investment strategy
that KPS' flagship funds have for nearly three decades. KPS Mid-Cap leverages
and benefits from KPS' global platform, reputation, track record,
infrastructure, best practices, knowledge and experience. The KPS Mid-Cap
investment team is managed by Partners Pierre de Villeméjane and Ryan Harrison,
who lead a team of experienced and talented professionals.
SOURCE KPS Capital Partners, LP
CONTACT: Business Inquiries: KPS – 212.338.5100, or Media Relations: David
Wells – 646.818.9287
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