RBPE acquires Doncasters for $260.7m

Investee Company – Doncasters

Investee Company Business Type – International manufacturer of components for performance critical applications

Type of Financing – Buyout

Equity Providers – Royal Bank Private Equity

Equity Leader (Individual) – Henry Gregson and Paul Isaacs of Royal Bank Private Equity

Debt Providers – Royal Bank of Scotland and J.P.Morgan Chase & Co.

Debt Type – Senior Debt, Mezzanine and working capital facility

Debt Leader (Individual) – Alan Lewis of Royal Bank of Scotland, and Hamish Buckland of J.P.Morgan Chase & Co

Equity Amount – N/K

Total Deal Value – $260.7 million

Other Advisors – Credit Suisse First Boston, J.P.Morgan Chase & Co.

Comments – Doncasters, the international manufacturer of components for performance critical applications, has been acquired in a deal worth $260.7 million.

The equity for the deal was provided by Royal Bank Private Equity, the remainder of the deal was financed by the Royal Bank of Scotland, who have provided senior debt and mezzanine financing, and J.P.Morgan Chase & Co.

Royal Bank Private Equity is making the acquisition through RCG Holdings, a recently incorporated company that has also acquired the Ross Catherall Group. Following the transaction, the activities of engineering company Ross Catherall will be merged with those of Doncasters.

The new company, which will operate under the name Doncasters, will operate an alloy, production, casting, forging, fabrication and machining group focussed on the growing aerospace, industrial gas turbine, superalloy and automotive turbocharger markets.

Doncasters was founded in 1778 and headquartered in Melbourne, Derbyshire. Since then, the company has expanded internationally and has broadened its product capability. Doncasters are now one of the few major international manufacturers who specialise in gas turbine components.

Paul Isaacs, director of Royal Bank Private Equity said: “We look forward to working closely with the management team of Doncasters to secure the benefits of the combination of the Doncasters and Ross Catherall businesses and to developing a leading aerospace and IGT group”.