Sifco Industries Inc. (NYSE: SIF) is buying private equity-backed C*Blade Spa, a maker of turbine blades, for about $26.5 million.
Maniago, Italy-based C*Blade's products are used gas turbines, assembly lines and other processes. The deal is expected to close in mid-2015.
C*Blade is backed by private equity firm Riello Investment Partners, headquartered in Padova, Italy.
The buyer makes parts for the aerospace and energy markets. Cleveland, Ohio-based Sifco says the acquisition will give it a broader reach into the steam turbine market, and an opportunity to sell C*Blade's products in the U.S.
C*Blade was established from the merger of two companies: Campolin & Beltrame Spa and Istal Srl, both based in Maniago, Italy.