M&A Deal Summary

Cogne Acciai Speciali Acquires Special Melted Products

On May 5, 2023, Cogne Acciai Speciali acquired manufacturer Special Melted Products from mutares AG for 180M EUR

Acquisition Highlights
  • This is Cogne Acciai Speciali’s 1st transaction in the Manufacturing sector.
  • This is Cogne Acciai Speciali’s largest (disclosed) transaction.
  • This is Cogne Acciai Speciali’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2023-05-05
Target Special Melted Products
Sector Manufacturing
Buyer(s) Cogne Acciai Speciali
Sellers(s) mutares AG
Deal Type Add-on Acquisition
Deal Value 180M EUR

Target

Special Melted Products

Sheffield, United Kingdom
Special Melted Products is a manufacturer of premium, specialty steels and nickel-based Super Alloys used in critical applications in the aerospace, oil & gas and nuclear industries. Special Melted Products is based in Sheffield, United Kingdom.

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Buyer(S) 1

Buyer

Cogne Acciai Speciali

Aosta, Italy

Category Company
Founded 1916
Sector Manufacturing
DESCRIPTION

Cogne Acciai Speciali is a manufacturer of stainless steel and nickel alloy long products. The manufacturing activities of the plant cover the main production cycles of the steel industry: steelmaking, casting, remelting, rolling, forging and machining. To enhance the customers proximity, additional cold process operations are performed through three plants, respectively located in Stabio (Switzerland), in Dong Guan (China) and in Huamantla (Mexico). CAS’ worldwide presence and customers proximity is assured by its own network of subsidiaries (both distribution companies and sales representative offices) based in Europe as well as around the world. CAS’ product range includes wire rod, hot rolled and cold finished bars, semi-finished products (ingots, blooms and billets) in stainless steels and nickel alloys; valve steels for automotive applications; tailor-made products on customers’ drawing in special steels. These products are mainly supplied to the Oil&Gas, Automotive, Aerospace, Medical and Energy sectors. Cogne Acciai Speciali was formed in 1916 and is based in Aosta, Italy.


DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

mutares AG

Munich, Germany

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

mutares AG (MUX:Berlin) is a publicly traded German holding group that acquires controlling stakes in small and medium-sized companies. mutares looks for businesses facing special situations, such as non-core divestitures, succession issues, or in need of restructuring. Target companies generally have at least €10 million in revenues. mutares does not have any sector preferences. mutares AG was formed in 2008 and is based in Munich.


DEAL STATS #
Overall 16 of 16
Sector (Manufacturing) 3 of 3
Type (Add-on Acquisition) 8 of 8
Country (United Kingdom) 1 of 1
Year (2023) 4 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-16 FDT

Mannheim, Germany

FDT is a manufacturer of thermoplastic roofing membranes. The Company supplies complete systems for waterproofing and all-round services for all project phases. FDT was founded in 1873 and is based in Mannheim, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-23 Efacec

São Mamede de Infesta, Portugal

Efacec is an international industrial group specializing in the manufacturing and delivery of critical equipment and turnkey solutions across the energy, engineering, and mobility segments. With a core expertise in energy efficiency and a workforce of over 2,000 people, the company is positioned to drive structural change in critical infrastructure within the energy transition and circular economy. Efacec is based in São Mamede de Infesta, Portugal.

Buy -