Carlyle Group (CG) Unloads Metaldyne to American Securities Affiliate
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The Carlyle Group (Nasdaq: CG) completed the sale of Metaldyne, LLC, a global manufacturer of highly engineered metal-based components for light vehicle engine, transmission and driveline systems, to an affiliate of American Securities LLC. Financial terms of the transaction were not disclosed.
Carlyle Strategic Partners II, a $1.35 billion distressed investment fund, led a group of creditors in the purchase of Metaldyne in October 2009, and partnered with Metaldyne’s management on the company’s successful recovery. Since Carlyle’s acquisition, Metaldyne has grown revenue by approximately 70 percent and employment by approximately 30 percent.
Metaldyne leverages its design, engineering and advanced manufacturing capabilities with its core metallurgy and noise-vibration-harshness technology to provide products and sub assemblies with improved performance and value to its customers. The company, headquartered in Plymouth, Michigan, has more than $1 billion in revenue and serves its global customers with 4,000 employees at 25 facilities in 13 countries throughout North America, Europe, Latin America and Asia.
As Carlyle’s distressed investment group, Carlyle Strategic Partners has invested $2.8 billion across its three investment vehicles (including reinvested capital) on behalf of its fund investors as of September 30, 2012. Other current and former Carlyle Strategic Partners investments include: Diversified Machine Inc., a precision machining company that provides chassis and powertrain components to the Big 3 auto manufacturers and major Tier 1 automotive suppliers throughout North America; Brinton’s Carpets, a global manufacturer of specialist woven carpets for residential and commercial premises; and Mrs. Fields Cookies, a branded consumer goods company.
Carlyle Strategic Partners II, a $1.35 billion distressed investment fund, led a group of creditors in the purchase of Metaldyne in October 2009, and partnered with Metaldyne’s management on the company’s successful recovery. Since Carlyle’s acquisition, Metaldyne has grown revenue by approximately 70 percent and employment by approximately 30 percent.
Metaldyne leverages its design, engineering and advanced manufacturing capabilities with its core metallurgy and noise-vibration-harshness technology to provide products and sub assemblies with improved performance and value to its customers. The company, headquartered in Plymouth, Michigan, has more than $1 billion in revenue and serves its global customers with 4,000 employees at 25 facilities in 13 countries throughout North America, Europe, Latin America and Asia.
As Carlyle’s distressed investment group, Carlyle Strategic Partners has invested $2.8 billion across its three investment vehicles (including reinvested capital) on behalf of its fund investors as of September 30, 2012. Other current and former Carlyle Strategic Partners investments include: Diversified Machine Inc., a precision machining company that provides chassis and powertrain components to the Big 3 auto manufacturers and major Tier 1 automotive suppliers throughout North America; Brinton’s Carpets, a global manufacturer of specialist woven carpets for residential and commercial premises; and Mrs. Fields Cookies, a branded consumer goods company.
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