Robertshaw Completes Acquisition of CastFutura S.p.A.
ROBERTSHAW COMPLETES ACQUISITION OF CASTFUTURA S.p.A.
NEW YORK, December 19, 2018 – One Rock Capital Partners, LLC (“One Rock”) announced that one of its affiliates, Robertshaw, a global engineering and manufacturing company focused on controls and solutions for residential white goods and commercial appliances, acquired CastFutura S.p.A. (“CastFutura”), a leading provider of combustion, safety and ignition products for cooking and heating applications.
Since its founding in 1969, CastFutura has built a strong reputation and track record for offering innovative and reliable products for gas systems including burners, thermocouples, spark plugs, igniters and switch harnesses. CastFutura employs approximately 750 employees and has operations in Bulgaria, Poland, Hungary, Italy and Brazil along with CastFutura’s headquarters and engineering center in Terno D’Isola, Italy which is approximately 30 miles outside of Milan.
“CastFutura is a strategic acquisition for Robertshaw that broadens our cooking presence in Europe, South America and the Middle East. The acquisition reinforces Robertshaw’s commitment to serving customers all across the globe,” said Mark L. Balcunas, CEO and President of Robertshaw.
Marco Bonfigli, CEO of CastFutura, added “We are excited to be joining the Robertshaw family and look forward to continue building on our success.”
Managing Partner of One Rock Tony W.Lee, added, “We remain eager to continue to expand Robertshaw’s product offering and global reach. The combination of Robertshaw and CastFutura will undoubtedly create long-term value for customers, employees and partners.”
Robertshaw was advised on this transaction by Hogan Lovells. CastFutura was advised by William Blair (financial) and Accinni, Cartolano & Associati (legal).
ABOUT CASTFUTURA
Headquartered in Terno D’Isola, Italy, CastFutura’s business serves primarily European, Middle Eastern and South American residential appliance and heating customers. The company has market leading positions in burners, thermocouples, spark plugs, igniters and switch harnesses for cook tops and ovens, as well as ignition electrodes for various heating applications including standard and high-efficiency condensing boilers. For more information, visit www.castfutura.com.
ABOUT ROBERTSHAW
Robertshaw is a global design, engineering and manufacturing company that sells mission-critical energy regulation and flow control components for large appliances and leverages its portfolio and technology into adjacent markets and after sales channels. Primary applications include controls for clothes washers and dryers, dishwashers, refrigerators, electric and gas cooking, ice makers, fluid dispensing, storage water heaters, gas valves for space/central heating, and automotive/off road temperature and fluid controls. For more information, visit www.robertshaw.com.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and enhancing its profitability to enhance long-term value. For more information,visit www.onerockcapital.com.
Contact
One Rock Capital Partners, LLC: 212-605-6000
