KPS Capital Partners LP has announced that it has signed a definitive agreement to acquire the worldwide manufacturer Siderforgerossi Group, SpA of large diameter forged products.
Upon completion of the transaction, Siderforgerossi will become the fifth acquisition by KPS’s mid-sized special situations fund and the second acquisition of KPS’s mid-sized fund in Italy in 2021.
Siderforgerossi is a vertical manufacturer of rolled and forged products, with capabilities across the entire manufacturing spectrum, including open die, closed and ring molding capabilities. The company is headquartered in Veneto , Italy, and operates nine factories in Italy and three additional facilities in India.
Ryan Harrison , partner of KPS Mid-Cap Investments, said, “Siderforgerossi is a market leader with unrivaled manufacturing capabilities and a distinguished history of quality control and customer service. investment to form the foundation of a global platform of forged products that KPS and the Siderforgerossi team intend to expand both organically and through acquisitions. We look forward to working with CEO Adriano Zambon , the Company’s talented management team and dedicated employees to accelerate the opportunities to grow and create value by leveraging KPS’s many decades of successful experience in investing in the metals and forged products industries.”
Adriano Zambon , CEO of Siderforgerossi, said, “We are pleased to operate under KPS ownership as the company enters this next phase of development. KPS’ proven track record in driving manufacturing excellence will enable Siderforgerossi to capitalize on significant growth opportunities, while maintaining our focus on quality, safety and customer service. Under KPS ownership, we will develop a range of operational and growth initiatives to add to our long and successful history.”
Financial terms of the transaction were not disclosed. Intesa Sanpaolo SpA – IMI Corporate & Investment Banking Division served as main financial advisor, Houlihan Lokey served as debt capital markets advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor for KPS.
Mediobanca – Banca di Credito Finanziario SpA acted as principal financial adviser and NTCM Studio Legale acted as legal adviser to the selling shareholders of Siderforgerossi and to the Company.
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