Carlyle to launch sale process for Italy's Forgital after summer - sources

Private equity firm Carlyle is planning to launch a sale process for Forgital, an Italian manufacturer of forged components mainly for the aerospace sector, after the summer, two sources close to the matter said on Friday.

Carlyle, which is working with JP Morgan on the sale, is aiming to get an enterprise value of roughly 2.5 billion euros ($2.7 billion) for Forgital, which is expected to report a core profit of around 135 million euros this year, one of the sources added.

Carlyle bought Forgital in 2019, valuing the company, which is specialized in forging and laminating rolled rings across a broad range of materials, at around 1 billion euros.

Private equity firms and North American industrial players have shown interest in the asset, the source added.

Founded in 1873 and based in the north east of Italy, Forgital operates nine facilities located in Italy, France and the US.

($1 = 0.9237 euros)