Carlyle Group Buying Marelli Motori for $280.5 Million
Jun 21st 2013 11:22AM
Updated Jun 21st 2013 11:24AM
Corporate holding company Carlyle Group signed a deal to acquire a new subsidiary this week.
On Thursday, Carlyle announced it has agreed to buy Marelli Motori from Britain's Melrose Industries in a deal expected to close in August. Based in Italy, Marelli is one of the world's largest manufacturers of industrial generators and electric motors for the power generation, marine, oil & gas, and industrial manufacturing markets.
Explaining the purchase, co-head of Carlyle Europe Partners Marco De Benedetti 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."
It's also a growing company, having increased annual revenues 12.5% in the most recent year, to $197.3 million in 2012. With Carlyle paying $280.5 million, this works out to a 1.4-times-sales ratio on the purchase.
The article Carlyle Group Buying Marelli Motori for $280.5 Million originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.