Carlyle Group buys Italin firm

LONDON-MILAN

Global alternative asset manager the Carlyle Group, announced that a company wholly owned by funds it manages has signed an agreement to acquire Marelli Motori from Melrose Industries PLC for 212 million euros in a statement on June 22. The transaction will be effected by the sale of Marelli Overseas Limited, the holding company of Marelli Motori, and is expected to close in August 2013, the statement said.

Capital for this investment will come from Carlyle Europe Partners III LP, a 5.3 billion euro fund that makes mid-and large-cap investments.

Founded in 1891, Marelli Motori is one of the world’s largest manufacturers of industrial generators and electric motors, serving worldwide markets for power generation, marine, oil & gas and industrial manufacturing.

Headquartered in Arzignano (Vicenza), Italy and with production plants in Italy and Malaysia, Marelli Motori has a global presence with sales, service and distribution offices in Germany, UK, Spain, the United States and South Africa.

Roberto Ditri, the company’s CEO, added, “We are excited to partner with The Carlyle Group. We are confident their industrial expertise and global network will significantly contribute to the continuing development of our business and support the next phase of our growth.”

The group is very active in Turkey as well. The Carlyle Group previously bought a 30 percent stake in Penti, a Turkish hosiery producer, as well as a 48 percent stake of a big Istanbul-based education group, called Bahçeşehir Kolejleri, among others.