December 19, 2012
American Securities Completes Acquisition of Metaldyne
American Securities LLC, a leading U.S. private equity firm, today announced that, in partnership with management, it has completed the acquisition of Metaldyne LLC, a leading global manufacturer of highly engineered metal-based components for light vehicle engine, transmission and driveline applications, from an investment group led by Carlyle Strategic Partners. Financial terms of the transaction were not disclosed.
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 and has $1 billion in revenue, 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.
“American Securities’ acquisition of Metaldyne is another example of our strategy of investing in market-leading companies. We are excited to make an investment in Metaldyne because the company has an exceptional management team and a solid growth trajectory,” said Kevin S. Penn, Managing Director at American Securities. “We anticipate continued growth for the auto industry as it recovers globally, and Metaldyne is well positioned to take advantage of that opportunity.”
“We are proud of Metaldyne’s legacy of operational excellence, best-in-class quality and our commitment to 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 $3.64 billion of committed capital. This is the second acquisition for American Securities in the automotive and light vehicle industry this fall, following its investment in HHI Group in October 2012.
Weil, Gotshal & Manges LLP served as legal counsel to American Securities, and Kirkland & Ellis LLP served as legal counsel to Metaldyne with respect to the transaction. Bank of America Merrill Lynch acted as financial advisor to Metaldyne, and Nomura Securities served as financial advisor to American Securities with respect to the transaction.