« Back | Next »

Transactions

Carlton Forge Works, Inc. has been acquired by Precision Castparts for $850 million

Kerlin served as the investment banker to the shareholders of Carlton Forge Works, Inc. in the $850 million sale to Precision Castparts. Carlton Forge Works, headquartered in Paramount, California, manufactures high quality forged rings used primarily in commercial aircraft engines. The acquisition of Carlton represented a strategic addition to Precision Castparts’ portfolio of aerospace component and specialty metals businesses. Kerlin was engaged as the financial advisor to Carlton Forge Works shortly after the company was approached by the potential acquirer.

Kerlin assisted the company board and shareholders to develop and implement a strategy to reach an ultra-premium, carefully crafted, all-cash transaction. Extensive discussions between the parties over a two-year period resulted in a negotiated transaction in the best sense of the term. By approaching the possible transaction with exclusive and confidential discussions, intensive due diligence and detailed negotiations were possible, resulting in a highly tailored transaction at an ultra-premium price. A number of special issues relating to the family trusts were identified and successfully resolved with the buyer. The ultimate transaction closed less than 45 days after the definitive documents were signed.

Carlton Forge Works, Inc. acquired by Precision Castparts for $850 million