American Securities eyes Metaldyne IPO

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metaldynePrivate equity-backed car parts manufacturer Metaldyne has filed to raise $150m via an IPO.

The company, which is owned by American Securities, will trade on the New York Stock Exchange or the Nasdaq exchange under the symbol MPG.

BofA Merrill Lynch, Goldman Sachs, Deutsche Bank Securities, Barclays, Credit Suisse and RBC Capital Markets are acting as underwriters for the IPO, according to a document filed with the US Securities and Exchange Commission.

Metaldyne did not say how many shares it was looking to float and at what price.

American Securities bought the company from fellow private equity firm Carlyle for over $800m in 2012.

The firm has recently launched its seventh private equity fund with a $4bn target.

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