Sell Side Advisor

Kroll Corporate Finance Advised ATI on the Sale of Its Operation in Sheffield, UK to Mutares SE & Co KGaA

Sell Side Advisor ATI
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2022-05-19T00:00:00.0000000
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Dafydd Evans
Dafydd Evans
Managing Director
M&A Advisory
London
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Steven Moon is a managing director at Duff & Phelps.
Steven Moon
Deputy Head of U.S. M&A and Co-Head of Global ADG M&A Advisory
M&A Advisory
Los Angeles
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Peter Bilden
Peter Bilden
Co-Head of Global ADG M&A Advisory
M&A Advisory
New York
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Victor Caruso
Victor Caruso
Co-Head of Global ADG M&A Advisory
M&A Advisory
New York
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Andreas Stoecklin
Andreas Stoecklin
Head of EMEA Corporate Finance and Co-Chair EMEA Management Committee
Frankfurt
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In May 2022, Allegheny Technologies Incorporated (ATI), a global producer of specialty materials and solutions for aerospace and defense, completed the sale of its Sheffield, UK operation to Mutares SE & Co KGaA. (“Mutares”), a pan-European mid-market private equity firm.

Kroll served as the exclusive sell-side adviser to ATI in connection with the sale, providing M&A and transaction advisory services.

“The Kroll team was an excellent partner in our quest to find the right owner for this operation,” said Elliot Davis, ATI Senior Vice President Senior Vice President, Chief Legal and Compliance Officer. “We appreciate their hard work and responsiveness throughout the process. We wish the Sheffield operation the best as it builds on its excellent reputation for quality and services.”

Dafydd Evans, Managing Director at Kroll, commented, “We, at Kroll, are honored to have advised ATI on the sale of its Sheffield, UK operation to Mutares. Following an in-depth strategic review, we are pleased to have found the right partner to support the business in its next phase of development.  Under its new ownership, we fully expect the business to go from strength to strength as it executes the strategic plan put in place by the management team. We look forward to following its successes in the coming years.” 

About the Sheffield, UK Operation 
The operation located in Sheffield, UK, employs around 190 people and has expected revenues of approx. EUR 80 million for 2022. It utilizes Vacuum Induction Melting (VIM), secondary remelting and rotary precision forging, to produce a range of high-integrity products in low alloy steels, stainless steels and nickel-based super alloys. Through its extensive in-house metallurgical and forging process competencies, the Sheffield operation can supply a wide range of products and reduce supply chain complexity for its customers, serving as a “one-stop-shop.” It will now operate under the name Special Metal Products Limited. 

About Allegheny Technologies Inc. (ATI)
ATI (NYSE: ATI) is a $3 billion global producer of high-performance materials and solutions for the global aerospace and defense markets and critical applications in electronics, medical and specialty energy. We’re solving the world’s most difficult challenges through materials science. Our proprietary process technologies, unique customer partnerships and commitment to innovation deliver materials and solutions for today and the evermore challenging environments of tomorrow. We are proven to perform anywhere. Learn more at ATIMetals.com. 

About Mutares
Mutares is a pan-European, mid-market listed holding company founded in 2008. The firm invests in medium sized companies with operational improvement and growth potential, creating long-term value through business transformation. Mutares has completed over 65 transactions in its portfolio and has a strong track-record of dramatically transforming and growing companies. Mutares is highly selective, targeting businesses that satisfy its strategic rational.


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