Park-Ohio Holdings Corp. acquired GH Electrotermia S.A. from Miura Fund I, FCR, a fund of Miura Private Equity, S.A., SGEIC and management team of GH Electrotermia for $41 million.
January 08, 2017
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Park-Ohio Holdings Corp. (NasdaqGS:PKOH) acquired GH Electrotermia S.A. from Miura Fund I, FCR, a fund of Miura Private Equity, S.A., SGEIC and management team of GH Electrotermia for $41 million on January 9, 2017. ParkOhio's payment amounts to $31 million, once the existing debt is deducted. The management team sold 10% stake under the deal. The transaction was financed with a newly formed European bank group led by BBVA. GH Electrotermia had revenues of $55 million in the year 2016. The transaction expected to be immediately accretive to earnings of Park-Ohio Holdings Corp. BBVA Corporate and Investment Bank acted as financial advisor and Ignacio Albiñana, Leticia Segarra, Antonio Guerra and Miguel Morales of Uría Menéndez Abogados, S.L.P. acted as legal advisors for Miura Private Equity. Squire Patton Boggs LLP acted as legal advisor for Park-Ohio Holdings Corp.
Park-Ohio Holdings Corp. (NasdaqGS:PKOH) completed the acquisition of GH Electrotermia S.A. from Miura Fund I, FCR, a fund of Miura Private Equity, S.A., SGEIC and management team of GH Electrotermia on January 9, 2017.
Park-Ohio Holdings Corp. is a diversified international company that provides customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. Its segments include Supply Technologies, Assembly Components and Engineered Products. Supply Technologies segment provides its customers with Total Supply Management, a proactive solutions approach that manages all aspects of supplying production parts and materials to its customers manufacturing floors, from strategic planning to program implementation. Assembly Components segment designs, develops and manufactures high pressure direct fuel injection fuel rails and pipes, fuel filler pipes and flexible multi-layer plastic and rubber assemblies. Its Engineered Products segment designs and manufactures a range of engineered products, including induction heating and melting systems, pipe threading systems, and forged and machined products.
Park-Ohio Holdings Corp. acquired GH Electrotermia S.A. from Miura Fund I, FCR, a fund of Miura Private Equity, S.A., SGEIC and management team of GH Electrotermia for $41 million.