Special situations firm Turnspire takes control of vehicle metal components maker MPI

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Special situations-focused private equity house Turnspire Capital has picked up the assets of automobile metal components business MPI.

The company, which was founded in 1969, is a Tier 1 supplier of high-precision, fineblanked metal components for engines, chassis, axles, exhausts, transmissions and seating.

Its automotive customers include several large original equipment manufacturers and global Tier 1 automotive suppliers, Turnspire said.

Abel Osorio, a partner at Turnspire said, “MPI is conservatively capitalized, with ample resources to invest in transformative process improvements, R&D, significant organic growth and to fund strategic acquisitions.

“MPI remains committed to providing current and future customers with world-class product quality and customer service.”

Osorio was promoted to partner by last September, after three years at the firm working across investment theses, negotiations and operations.

Turnspire targets business with enterprise values of up to $125m, with either positive or negative EBITDA and revenues of between $50m and $400m.

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