Oak Hill Capital Partners is backing the secondary management buyout of Firth Rixson Ltd from The Carlyle Group and Lehman Brothers Co-Investment Partners. The deal values the business at £945m. Firth Rixon is a supplier of highly engineered rings, industrial forgings and specialised metal products primarily to aerospace engine manufacturers. Firth Rixson’s management team will remain significant investors in the company. Financing for the transaction is being provided by Lehman Brothers, GE Commercial Finance and Lloyds TSB Corporate Markets. The transaction is expected to close in December 2007, subject to receipt of regulatory approvals.
Consortium of investors supporting the funding round includes existing and new backers
Vehicle is larger than its predecessor, Xenon Private Equity VI, a €184m fund closed in July 2014
GP intends to boost the company's organic growth and further strengthen its market position
Acquisition of the family-owned company adds to the GP's industrial portfolio