Royal Bank Private Equity acquire DONCASTERS for $260.7m

    MELBOURNE, England, July 13 Royal Bank Private Equity
(RBPE) has announced the completion of their $260.7m acquisition of
Derbyshire-based DONCASTERS plc, international manufacturers of components for
performance critical applications. The offer, which was announced on 30 April,
has now gone unconditional with the acceptance of over 90% of shareholders and
full regulatory approvals received from the competition authorities of the
USA, UK, Ireland and Germany.
    Debt finance facilities have been arranged by the Royal Bank of Scotland
and J.P.Morgan Chase & Co.
    The acquisition brings together the Ross Catherall group, acquired by RBPE
in December 2000 from Rolls-Royce, and DONCASTERS, to form an alloy
production, casting, forging, fabrication and machining group focussed on the
growing aerospace, industrial gas turbine, superalloy and automotive
turbocharger markets. Eric Lewis, currently CEO of DONCASTERS plc, will be
Chief Executive of the combined group, and its headquarters will be based in
Melbourne, Derbyshire.
    The two complementary groups form a strategically important global
supplier of materials and components to original equipment manufacturers
("OEMs") worldwide, with an extensive range of manufacturing capabilities.
Core products include cast, forged and machined airfoils, combustor sections,
rings and casings for gas turbines; aircraft exhaust assemblies; automotive
turbocharger wheels and impellers; medical orthopaedic implants; and other
performance-critical components for specialist engineering industries.
    The new company, which will operate under the name DONCASTERS, will have
more than 5000 employees worldwide, operating from 30 sites in the UK, the US,
Mexico, Germany and Belgium. Combined sales, based on last financial year, are
circa 500m Pounds Sterling before inter company eliminations.  The operating
companies will continue to trade as currently.