Deloro Stellite Group sells its ATS Sferic Medical Division
Date: 07/12/2011
Deloro Stellite, the specialist engineering group owned by Duke Street, is pleased to announce that it has completed the sale of its non-core medical division, ATS Sferic, to Marle international, a French medical products business backed by The Carlyle Group.
ATS Sferic is a group of companies specialising in the casting and machining of advanced implants and instruments for the orthopaedic sector. In recent years, the business has benefited from Deloro Stellite’s well-established expertise in alloys and superalloys.
ATS is the second largest independent medical casting company in Europe. Based in Ales, France, the company operates from a 5,800m2 site with a 120 employees. Sferic is a machining company servicing mostly orthopaedic clients in Europe. Headquartered in Menars, France, the company has a 3,900m2 site with 93 employees.
Andy Caffyn, Group CEO of Deloro Stellite commented:
“We are delighted with this transaction which has delivered real value to us. Earlier in the year we disposed of our Bologna general castings plant and this second transaction has completed our strategy to focus on our core wear solution markets. We can now concentrate even more closely on our core markets, continuing to provide great technology, solutions and operational performance to our valued customers.”
Commenting on the disposal, Duke Street partner Charlie Troup said:
“There is a great deal of opportunity for a high quality international special engineering business such as Deloro Stellite in its core sectors of energy, aerospace and automotive. We are pleased to have added significant operational value to ATS Sferic which has been recognised by the new owner and look forward to capitalising on the greater focus now afforded to the rest of the Deloro Stellite group.”
Deloro Stellite was advised on the sale of ATS Sferic by Lazard & Co Limited and law firm SJ Berwin.