Carlyle Group Buying Marelli Motori for $280.5 Million
Corporate holding company Carlyle Group signed a deal to acquire a new subsidiary this week.
On Thursday, Carlyle announced it has agreed to buy Marelli Motori from Britain's Melrose Industries in a deal expected to close in August. Based in Italy, Marelli is one of the world's largest manufacturers of industrial generators and electric motors for the power generation, marine, oil & gas, and industrial manufacturing markets.
Explaining the purchase, co-head of Carlyle Europe Partners Marco De Benedetti said: "Marelli Motori is an outstanding Italian company that, thanks to the quality and competence of its management, has gone through a process of true internationalization enabling them to gain recognition and a strong market position in all of the major international markets in which they operate."
It's also a growing company, having increased annual revenues 12.5% in the most recent year, to $197.3 million in 2012. With Carlyle paying $280.5 million, this works out to a 1.4-times-sales ratio on the purchase.
The article Carlyle Group Buying Marelli Motori for $280.5 Million originally appeared on Fool.com.
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