Igor Gorostiaga
Norgestion
SIDENOR FORGING and CASTING
Deal Type
Acquisition
Sector
Energy & Sustainability
Completion Date
30th October 2019
Deal Value
Not disclosed
Company Background
The company mainly focused on manufacturing HEAVY Forged and casted parts. (heavy means, over 5MT pieces). Specially focused on Marine Crankshaft, Rolls for Rolling mills, Wind towers shafts, and forged bars.
Several sectors worlwide (Energy, Oil and Gas, mining, Machine tools, renewables, Marine, among other).
It was incorporated in 1918 so over 100 years. It belonged to Spanish public entity although it was included in the steel makers merging process in Spain on 90s.
Deal Summary
Sidenor Aceros Especiales consider its subsidiary SFC as non core asset.
A new investmen vehicle leaded by 3 entrepreneurs (2 US citizens and 1 German citizen) acquired the 75% of the company with a new industrial plan to develop the company.
NORGESTION, advised the investors during the process looking for new financing facilities to substitute parent company's debt facilities.
Value Added
NORGESTION advised the investors in the acquisition process in Spain, helping to finance the deal and negotiation with seller.
Latest Mergers Alliance News
Khronos Advisory (Thailand) has advised Electricity Generating Public Company Limited (EGCO) on USD95 million capital increase in PT Chandra Daya Investasi
Dresner Partners (USA) advised Connoisseurs Products on its sale to Willert Home Products
Ethica Group (Italy) advised Vicenza Mode, high-end knitwear manufacturer, in the sale of a majority stake to Sienna PE
