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American Securities eyes triple auto parts companies merger ahead of IPO

13 Jun 2014

MetaldyneUS private equity firm American Securities is reportedly planning to merge three of its vehicle part making businesses ahead of an IPO for the combined company which could see it valued at $4bn.

The firm has been involved in advanced discussions with banks about merging Metaldyne, HHI Group and Grede according to Reuters, which cited people familiar with the matter.

It added that the businesses had combined EBITDA of more than $500m.

Global buyout firm Carlyle sold car parts maker Metaldyne to American Securities at the end of 2012, completing a three-year turnaround investment.

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

It bought HHI Group Holdings from turnaround specialist KPS Capital Partners in October 2012, and Grede earlier this month.

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