Forgital, a producer of large forged and machined components for the aerospace and other industries, will be acquired by global investment firm The Carlyle Group. The transaction values Forgital at approximately $1.1 billion and is expected to be completed in the second half of 2019. Established in 1873 with headquarters in Vicenza, Italy, Forgital is a specialist in the manufacture of machine-finished forged and laminated rolled rings made from different materials, including steel, aluminum, titanium and nickel-based alloys. In addition to aerospace applications, Forgital also serves the oil-and-gas, construction, mining and power-generation industries. The company employs over 1,100 people across nine facilities in Italy, France and the United States and through its global salesforce.
Ellwood Group Inc. of Ellwood City, Pa., will acquire McInnes Rolled Rings, a manufacturer of seamless carbon, alloy and stainless steel rolled rings. The deal is scheduled to close on March 31, and Ellwood expects to run Erie, Pa.-based McInnes independently as a wholly owned subsidiary. Operations at both companies are expected to continue seamlessly throughout the acquisition process. The deal fits Ellwood’s strategy to provide quality metals and custom-engineered components for critical applications around the world.