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Carlyle sells car parts maker Metaldyne to American Securities

19 Dec 2012

Global buyout firm Carlyle has sold car parts maker Metaldyne to American Securities, completing a three-year turnaround investment.

Carlyle’s $1.35bn Strategic Partners II fund led a group of creditors to buy Metaldyne out of bankruptcy in October 2009.

Since then, the company has grown its revenue by about 70 per cent and boosted its employee base by about 30 per cent, the firm said in a statement released today.

Although financial terms for the deal were not disclosed, Carlyle managing director Shary Moalemzadeh said the firm exceeded its investment goals.

Michael Stewart, managing director and co-head of Carlyle Strategic Partners, added, “We teamed with Metaldyne at the height of the great recession and the North American automotive industry crisis, believing we could grow the company.

“Carlyle led the infusion of cash to stabilise Metaldyne’s financial situation and allow a great business to emerge from underneath an unsustainable balance sheet.

“With a deep management team and a committed workforce able to focus on its business, the new Metaldyne is positioned for continued growth and success as a global automotive manufacturing supplier.”

The company, headquartered in Plymouth, Michigan, now has more than $1bn in revenue and serves its global customers with 4,000 employees at 25 facilities throughout North America, Europe, Latin America and Asia.

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