UK - Oak Hill backs £945m SBO of Firth Rixon from Carlyle and Lehman

Firth Rixson supplies highly engineered products to its global aerospace and industrial customers from 11 manufacturing facilities located in the United States, United Kingdom, Hungary and China. The company’s products are found on most significant aerospace engine platforms. Firth Rixson’s headquarters are located in East Hartford, Connecticut and Sheffield, England, and the company generates annual revenues of approximately £500m.

Carlyle acquired Firth Rixson in a £49.7m public-to-private transaction in 2003. Upon acquisition the company was simultaneously merged with Forged Metals, Inc, an existing Carlyle portfolio company acquired in 2000 and based in California. Firth continued on the consolidation path with the acquisition of California-based Schlosser Forge Company in September 2004. In 2005, Firth became the first Western ring-roller to establish its own facility in China. In September 2006, Lehman Brothers completed a co-investment alongside Carlyle through an acquisition of a 36% interest in the company, with Carlyle remaining the lead investor in the company.

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• Buyouts
• UK / Ireland
• Industrials