Professional Documents
Culture Documents
new opportunities within your oil, gas, and also power generation industries,
and fostered an entrepreneurial culture that has fueled the prosperity of
the actual business. Hicks, Chairman along with Chief
Executive Officer involving Hicks Equity Partners and also Steven E. "The
Latrobe acquisition will offer necessary capacity to fulfill strong customer
interest in our premium products, improves our position inside attractive
segments such as aerospace as well as energy, provides capabilities which will help
us commercialize crucial cool product offerings, and offers us improved
returns on new capability investments.
Concerning Carpenter Technology
"We think about Latrobe an essential extension associated with Carpenter's capabilities
and are incredibly proud in our new partnership. Morgan as monetary advisor and Pepper
Hamilton LLP as legal counsel. Latrobe along with Carpenter have an exceptional long term
collectively and we
appear forward in order to building outstanding value for your mixed company's
shareholders and also customers."
Latrobe's shareholders will very own approximately 15.5% regarding Carpenter's
outstanding common stock.
Hicks Equity Partners ("HEP") may always be the private equity arm with regard to Hicks
Holdings LLC, the holding company for your Thomas O. "Our
companies are usually an superb fit, and as part of Carpenter - the
industry's technology leader using a much more comprehensive platform - the particular
mixed organization will reach new markets and be well positioned to
offer more offerings to consumers along with enterprise partners throughout your
world. Karol said, "We are usually proud regarding what Latrobe has accomplished
more than the final four years. Carpenter undertakes simply no obligation to update as well as
positioned to attempt a vehicle long term growth as well as capitalize on the many new worth
creation opportunities it will enjoy as part of this engineered metals
leader."
Acquired by simply Hicks Equity Partners along with The Actual Watermill group inside December
2006, Latrobe manufactures along with distributes high-performance materials
for aerospace, defense, energy, along along with other significant applications together with
manufacturing operations throughout Pennsylvania, Ohio, Texas, and also the United
Kingdom and also seven distribution centers located throughout your United
States. Annual net synergies tend to be anticipated being inside excess associated with
$25 million. Annual revenues along with EBITDA (Earnings Just Before Interest, Taxes,
Depreciation and also Amortization) for that twelve months ending March 31,
2011 had been $379 million along with $58 million respectively.
With Regards To Latrobe Specialty Metals, Inc.
Carpenter Technologies produces and distributes conventional as well as powder
metal specialty alloys, including stainless steels, titanium alloys,
instrument steels and also superalloys. Within the actual transaction, 8.1 million shares regarding
Carpenter stock, subject to be able to http://www.cameroncarpenter.com/ particular adjustments
pertaining to operating richesse and also
pension, representing a present equity value of approximately $388
million, will possibly be issued to the present proprietors which includes Hicks Equity
Partners and The Particular Watermill Group. The Actual
Watermill Group's various other portfolio companies contain FutureMark Paper
Company, C&M Corporation, and also MultiLayer Coating Technologies, LLC.
Steven E. Through combining both
companies we will boost item mix, lower cost, and lower necessary
richesse investments pertaining to long term growth.
Carpenter was represented simply by J.P. Any Kind Of of these factors could provide an adverse
and/or fluctuating impact about Carpenter's results associated with operations. Please visit
www.latrobesteel.com
for much more information concerning the organization along with its products.
Institutional investors may access the are living contact along with participate within the
problem along with solution session. These kind of forward-looking
statements tend to be subject for you to risks as well as uncertainties in which could trigger
actual outcomes to change from those projected, anticipated as well as implied. upon
Monday, June 20 to always be able to talk about the actual acquisition. HEP searches for
set up companies together with proven track records, strong free associated with charge cash flow
characteristics, a strong competitive market position as well as an
experienced management team seeking to companion together with long term capital.
the transaction is subject to customary closing conditions and also
regulatory approvals.
These People include nevertheless usually are usually not restricted to: (1) the parties' expectations
with
respect for the synergies, expenses and other anticipated monetary impacts
of the transaction could vary from real synergies realized, expenses
incurred and also financial impacts experienced as a results of the actual
transaction; (2) the actual possibility the transaction is actually delayed or really does
certainly not close, including, without having limitation, because of to the failure for you to receive
any necessary regulatory approvals or the failure to meet virtually any closing
condition, (3) the actual getting involving governmental action (including the actual passage
associated with legislation) to block your transaction; (4) the particular cyclical nature of the
specialty materials company as well as certain end-use markets, including
aerospace, industrial, automotive, consumer, medical, and also energy, as
well as
various other influences upon Carpenter's company such as new competitors, your
consolidation associated with competitors, customers, and suppliers or the transfer
involving manufacturing capacity from your Usa for you to foreign countries;5)
the actual capacity of Carpenter for you to achieve cost savings, productivity
improvements or process changes; 6) the chance to recoup raises within
the cost of energy, raw materials, freight or virtually any other factors; 7) domestic
as well as foreign excessive manufacturing capacity for several metals; 8)
fluctuations inside forex rates; 9) the actual amount of success regarding
government trade actions; 10) the actual valuation in the assets as well as
liabilities inside Carpenter's pension trusts and the accounting regarding pension
plans; 11) feasible labor disputes or even perform stoppages; 12) the prospective
our consumers might substitute alternate supplies or perhaps adopt different
manufacturing procedures in which substitute as well as limit your suitability of our
products; 13) the capability to effectively acquire and integrate
acquisitions; 14) the actual availability of credit score facilities in order to Carpenter,
its clients or another members with the supply chain; 15) the chance to
obtain energy or even raw materials, specifically coming from suppliers located in
countries in which might be subject to become able to unstable political or economic
conditions; 16) our manufacturing processes are dependent upon very
specialized equipment found primarily in one facility in Reading,
Pennsylvania regarding which there might end up being restricted alternatives if there are
significant equipment failures as well as catastrophic event; and 17) our future
good results depends on the continued services and accessibility to key
personnel, such as members in our executive management team,
management, metallurgists along using other skilled personnel and additionally the loss of
these key personnel could affect our capability to perform until suitable