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The Valence Group Advises Kennametal on Its Acquisition of Deloro Stellite

Dépèche transmise le 17 janvier 2012 par Business Wire

The Valence Group Advises Kennametal on Its Acquisition of Deloro Stellite

NEW YORK--(BUSINESS WIRE)--The Valence Group, a specialist M&A investment bank offering advisory services to companies and investors in the chemicals, materials and related sectors, has advised Kennametal (NYSE: KMT) on its proposed acquisition of Deloro Stellite Group from Duke Street Capital for approximately Euro 277 million. The transaction, which is expected to close in 60 to 90 days, remains subject to customary regulatory approval and negotiated conditions of closing.

“We were very pleased to have been associated with a premier materials company such as Kennametal and advising them on this highly strategic acquisition.”

Deloro Stellite is a global manufacturer and provider of alloy-based critical wear solutions for extreme environments involving high temperature, corrosion and abrasion. Headquartered in the U.K., the company employs nearly 1,300 people across seven primary facilities globally, including locations in the U.S., Canada, Germany, Italy, India and China. Through proprietary metal alloys and materials expertise, as well as specialized engineering design and fabrication capabilities, Deloro Stellite delivers value-added tailored wear solutions for customers in Kennametal’s current end markets of oil/gas, power generation, transportation and aerospace.

“Already our second transaction of 2012, The Valence Group’s record continues to demonstrate the extent to which our sector focus and expertise is valued in the chemicals and materials M&A arena,” said Telly Zachariades, a co-founder and partner at Valence.

"We were very pleased to have been associated with a premier materials company such as Kennametal and advising them on this highly strategic acquisition.” said Kirk McIntosh, a co-founder and partner at Valence.

About Kennametal

Kennametal Inc. (NYSE: KMT) delivers productivity to customers seeking peak performance in demanding environments by providing innovative custom and standard wear-resistant solutions. This proven productivity is enabled through advanced materials sciences and application knowledge. Kennametal’s commitment to a sustainable environment provides additional value to customers. Companies operating in everything from airframes to coal mining, from engines to oil wells and from turbochargers to construction, recognize Kennametal for extraordinary contributions to their value chains. In fiscal year 2011, customers bought approximately $2.4 billion of Kennametal products and services – delivered by approximately 12,000 talented employees doing business in more than 60 countries – with more than 50 percent of these revenues coming from outside North America.

About The Valence Group

The Valence Group is a specialist M&A investment bank offering advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking, strategic consulting and senior management within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The senior members of The Valence Group have collectively more than 300 years of experience, more than 200 closed transactions valued cumulatively at over $80 billion and spanning more than 100 different chemicals/materials subsectors. The firm's offices are located in New York, London, and Shanghai.