M&A Deal Summary

Novelis Acquires Aleris International

On July 26, 2018, Novelis acquired metals/mining company Aleris International from Apollo Global Management and Sankaty Advisors for 2.6B USD

Acquisition Highlights
  • This is Novelis’ 1st transaction in the Metals/Mining sector.
  • This is Novelis’ largest (disclosed) transaction.
  • This is Novelis’ 1st transaction in the United States.
  • This is Novelis’ 1st transaction in Ohio.

M&A Deal Summary
Date 2018-07-26
Target Aleris International
Sector Metals/Mining
Buyer(s) Novelis
Sellers(s) Apollo Global Management
Sankaty Advisors
Deal Type Add-on Acquisition
Deal Value 2.6B USD
Advisor(s) Moelis & Co. (Financial)
Fried Frank Harris Shriver & Jacobson (Legal)

Target

Aleris International

Cleveland, Ohio, United States
Aleris International is a producer of aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Major customers include some of the world’s largest companies in the aerospace, building and construction, containers and packaging, metal distribution, and transportation industries. Aleris serves these customers with its low-cost, flexible, technically advanced and strategically located manufacturing operations supported by industry-leading research and development.

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Buyer(S) 1

Buyer

Novelis

Atlanta, Georgia, United States
Category Company
Founded 2005
Sector Metals/Mining
DESCRIPTION

Novelis, Inc. is a producer of aluminum rolled products and the world's largest recycler of aluminum. Novelis supplies premium aluminum sheet and foil products to transportation, packaging, construction, industrial and consumer electronics markets throughout North America, Europe, Asia and South America. Novelis, Inc. is headquartered in Atlanta, Georgia, operates in 10 countries.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Commonwealth Rolled Products

Lewisport, Kentucky, United States

Commonwealth Rolled Products produces aluminum rolled products serving the automotive and common alloy markets. Commonwealth operates a production facility in Lewisport, KY where it employs approximately 1,000+ associates and maintains its principal sales office in Cleveland, Ohio and its R&D center in Madison Heights, Michigan.

Sell $171M

Seller(S) 2

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 35 of 66
Sector (Metals/Mining) 2 of 2
Type (Add-on Acquisition) 6 of 20
State (Ohio) 1 of 1
Country (United States) 29 of 50
Year (2018) 6 of 7
Size (of disclosed) 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-23 RCCH HealthCare Partners

Brentwood, Tennessee, United States

RCCH HealthCare Partners works with communities to provide high-quality, compassionate hospital and healthcare services to non-urban communities all across the country. By developing regionally focused healthcare delivery systems, RCCH HealthCare Partners is able to ensure that access to care is available to our patients, and their families, close to home. RCCH HealthCare Partners was founded in 2010 and is based in Brentwood, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-27 Aspen Insurance Holdings

Hamilton, Bermuda

Aspen Insurance Holdings is a provider of reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. Aspen Insurance Holdings was founded in 2002 and is based in Hamilton, Bermuda.

Buy -
SELLER

Sankaty Advisors

Boston, Massachusetts, United States
Category Company
Founded 1998
Sector Financial Services
DESCRIPTION

Sankaty Advisors is the independently-managed credit affiliate of Bain Capital, LLC and a private managers of fixed income and credit instruments. Founded in 1998 and now managing more than $24 billion of assets, Sankaty has an integrated team of 200 people that enables the firm to invest up and down the capital structure, and to conduct rigorous, independent analysis of thousands of corporate issuers.

DEAL STATS #
Overall 3 of 3
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Airvana

Chelmsford, Massachusetts, United States

Airvana LP is a provider of 4G LTE and 3G small cell solutions that enable people to access communications, information and entertainment in the most challenging and high-value environments—offices, public venues and homes.

Sell -
Mergr

Product

Company

Legal