Riello Investmenti Partners has sold C*Blade to SIFCO
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that SIFCO Industries, Inc. (NYSE MKT: SIF) has agreed to acquire C*Blade SpA (“C*Blade” or the “Company”). Closing will occur following satisfaction of closing conditions and regulatory approvals, currently anticipated by mid-2015.
C*Blade has been in the business of manufacturing steam turbine blades and gas compressor blades for the power generation industry for more than 50 years. C*Blade is a best-in-class manufacturer of critical turbine components with a long track record of serving both OEM and aftermarket customers. Located in Maniago, Italy, C*Blade has approximately 150 employees and annual revenues of approximately €24 million.
Commenting on the deal, Luigi Terranova, Chief Executive Officer of Riello Investmenti Partners, said, “We hired Lincoln International because we knew that they would expertly guide the sale process of C*Blade to a positive outcome for C*Blade, its shareholders and employees.”
Lincoln acted as the exclusive financial advisor to Riello Investimenti Partners and C*Blade, working closely with the Company’s board of directors and management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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