December 19, 2012
American Securities Completes Acquisition of Metaldyne
Plymouth, Mich. - December 19, 2012 – Metaldyne LLC today announced that it has been acquired by American Securities LLC in a transaction that includes all of Metaldyne's global operations. Financial terms of the transaction were not disclosed.
American Securities is a leading private equity firm with a consistent track record of building successful and enduring businesses. With more than $8 billion under management, American Securities’ mission is to make investments in great businesses and partner with management to make them better.
Metaldyne leverages its design, engineering, and advanced manufacturing capabilities with its core metallurgy and noise-vibration-harshness technology to provide products and sub-assemblies with improved performance and overall value to its customers. The company, which is headquartered in Plymouth, Michigan (USA) has over $1 billion in revenue and is well positioned to serve its global customers with 4,000 employees at its 25 facilities located in 13 countries throughout North America, Europe, Latin America, and Asia.
“We are proud of our commitment to operational excellence, differentiating technology, and continuous improvement,” said Thomas Amato, president and CEO of Metaldyne. “We look forward to partnering with American Securities to accelerate the growth of our company and to continue our global collaboration with our customers.”
American Securities closed its sixth fund in June 2012 with approximately $3.6 billion of committed capital. American Securities’ other investments in the automotive sector include HHI Group Holdings, a manufacturer of forged components, hub unit bearings, and engine timing systems, and GT Technologies, a manufacturer of valvetrain components.
“Our acquisition of Metaldyne is another example of American Securities’ strategy of investing in market-leading companies,” said Kevin S. Penn, managing director at American Securities. “We are excited to make an investment in Metaldyne because the company has an exceptional management team and a solid growth trajectory. We anticipate continued growth for the auto industry as it recovers globally, and Metaldyne is well positioned to take advantage of that opportunity.”
American Securities purchased Metaldyne from an investment group led by Carlyle Strategic Partners, which owned Metaldyne since October of 2009.
Metaldyne LLC is a leading global manufacturer of highly engineered metal-based components for engine, transmission, and driveline applications in the automotive and light truck markets. Products include powder metal engine connecting rods, engine bearing caps, engine cylinder oil jets, transmission sub assemblies, forged differential gears and pinions, differential assemblies, engine balance shaft modules, transmission shafts, and engine crankshaft dampers. Metaldyne has over $1 billion in annual revenue, with 25 locations in 13 countries, and is owned by American Securities, a leading private equity firm (www.american-securities.com). More information about Metaldyne can be found at www.metaldyne.com.