American Securities acquires iron castings maker Grede from Wayzata


new york 5_sqPrivate equity firm American Securities has acquired Grede, which makes cast, machined and assembled components for transportation and industrial markets.

The company operates 17 facilities in North America and has annual frevenues of over $1bn.

American Securities bought the business from fellow private equity investor Wayzata Investment Partners, which owned a majority stake in the company.

Grede was established in 2010 via the merger of the assets of Grede Foundries, Blackhawk Foundry, and Citation Corporation.

American Securities managing director Kevin Penn said, “ Grede is another example of our focus on identifying superior market-leading businesses.

“We are excited to partner with Grede’s exceptional management team, and believe the Company’s operational excellence positions it well to benefit from continued growth in the auto and construction markets.”

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