The Carlyle Group acquires Marelli Motori for €212m
LONDON & MILAN--(BUSINESS WIRE)-- Global alternative asset manager The Carlyle Group (NAS: CG) today announced that a company wholly owned by funds it manages has signed an agreement to acquire Marelli Motori from Melrose Industries PLC (ISE: MRO) . The transaction will be effected by the sale of Marelli Overseas Limited, the holding company of Marelli Motori, and is expected to close in August 2013.
Capital for this investment will come from Carlyle Europe Partners III L.P., a 5.3 billion Euro fund that makes mid- and large-cap investments.
Founded in 1891, Marelli Motori is one of the world's largest manufacturers of industrial generators and electric motors, serving worldwide markets for power generation, marine, oil & gas and industrial manufacturing.
In recent years the Company has seen significant growth in revenues, which grew to €149.1 million in 2012, an increase of 12.5% over the previous year and generating in 2012 a headline EBITDA of €22.2 million.
Headquartered in Arzignano (Vicenza), Italy and with production plants in Italy and Malaysia, Marelli Motori has a global presence with sales, service and distribution offices in Germany, UK, Spain, United States and South Africa.
Commenting on the announcement, Marco De Benedetti, Managing Director and co-Head of Carlyle Europe Partners said: "Marelli Motori is an outstanding Italian company that, thanks to the quality and competence of its management, has gone through a process of true internationalization enabling them to gain recognition and a strong market position in all of the major international markets in which they operate."
Roberto Ditri, the company's CEO, added: "We are excited to partner with The Carlyle Group. We are confident their industrial expertise and global network will significantly contribute to the continuing development of our business and support the next phase of our growth."
"We look forward to working with the management to build on these successes to further develop the company for the global marketplace."
Unicredit and Intesa acted as M&A advisors for Carlyle, with financing arranged and underwritten by MLAs Unicredit and Societe Generale. Melrose Industries PLC and Marelli Motori were advised by Nomura International PLC.
About The Carlyle Group
The Carlyle Group (NAS: CG) is a global alternative asset manager with $170 billion of assets under management across 114 funds and 76 fund of fund vehicles as of March 31, 2013. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments - Corporate Private Equity, Real Assets, Global Market Strategies and Solutions - in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs 1,400 people in 34 offices across six continents.
Marelli Motori, based in Italy, is one of the world's leading manufacturers of generators and electric motors. With five overseas offices in Germany, UK, Malaysia, USA and South Africa it serves worldwide markets for power generation, marine, oil & gas and industrial manufacturing. In the year ended 31 December 2012, Marelli Motori generated revenues, EBITDA headline and operating profits of €149.1 million, €22.2 million and €18.9 million respectively. Marelli Motori's gross assets were €125.8 million as at 31 December 2012.
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