Hogan Lovells advises Stonepeak in acquisition of Forgital Group from Carlyle

Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak has approximately US$70 billion of assets under management.

Forgital specializes in forged and laminated metallic rolled rings, with technologically advanced manufacturing capabilities across a broad portfolio of materials, including titanium, nickel-based alloys, aluminum, and steel. It serves a diverse range of end markets, including aerospace, defense, space, power generation, and oil & gas, and offers vertical integration across the entire forged components value chain, from process engineering to assembly, final machining, and testing.

The transaction is expected to close in the second quarter of 2025 and is subject to the satisfaction of customary regulatory approvals.

More information on the transaction can be found here.

The Hogan Lovells deal team was led by a transatlantic group of Aerospace and Defence specialists, including partners Ed Fishman (Washington, D.C.) and Mehtap Cevher Conti (New York), and counsels Faraz Naqvi (London) and Malcolm Parry (London). They were supported by partners Matthieu Grollemund and Alexander Premont (both Paris) and counsel Pierre-Marie Boya (Paris) on French due diligence matters, partner Aline Doussin (London/Paris) on trade compliance matters, and New York Office Managing Partner Michael Kuh on U.S. corporate and mergers and acquisitions matters.

Hogan Lovells also recently advised Stonepeak in the acquisition of Air Transport Services Group, Inc. (NASDAQ:ATSG), in an all-cash transaction with an enterprise valuation of approximately US$3.1 billion.