A Sheffield-based supplier of premium-quality forged products has been sold to a US private equity firm, in a deal that provides a successful exit for growth capital investor BGF.
Independent Forgings and Alloys (IFA) has roots dating back to the 16th century at its unparalleled 670,000 sq. ft. forge site in Hillsborough, Sheffield and has built a reputation as one of the leading suppliers to the global aerospace industry.
To take the business on the next stage of its journey, Trive Capital, a US private equity firm with significant experience of the aerospace and defence sector, has acquired a majority stake in IFA, with the existing senior management team re-investing as part of the deal.
IFA Founder and CEO, Andy McGuinness, said:
“Our achievements are down to the hard work and passion of our staff and we are thrilled to have reached this milestone together.
“Trive’s investment underlines the future ambition of IFA and we look forward to working with them, as well as our customers, as we look to build on our successes to date.”
As part of the deal, investor BGF successfully exits the business, having supported IFA’s growth since 2018.
A Knights team, led by Michael Hall, Russell Bainbridge and Molly Rae, worked with the shareholders of IFA, and the team at BGF, on the deal.
Michael Hall, Partner at Knights, said:
“This transaction is the continuation of a great Sheffield success story, and we are delighted to have advised both BGF and the IFA shareholders on the deal. This transaction further demonstrates Knights’ ability to deliver on complex cross-border M&A transactions for our clients.
“Having personally worked with IFA for around 15 years, including advising on the original BGF investment in 2018, I’m very proud to have played a role in the business’ journey to this point and we're all excited to see what the future holds under Trive’s ownership.”