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The Carlyle Group sells Metaldyne to American Securities

Alternative asset manager The Carlyle Group has completed the sale of Metaldyne, a manufacturer of metal-based components for light vehicle engine, transmission and driveline systems, to an affiliate of American Securities.

Financial terms of the transaction have not been disclosed.

Carlyle Strategic Partners II, a USD1.35bn 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 per cent and employment by approximately 30 per cent.

Michael Stewart, Carlyle managing director and co-head of Carlyle Strategic Partners, says: “We teamed with Metaldyne at the height of the Great Recession and the North American automotive industry crisis, believing we could grow the company. Carlyle led the infusion of cash to stabilize Metaldyne’s financial situation and allow a great business to emerge from underneath an unsustainable balance sheet. With a deep management team and a committed workforce able to focus on its business, the new Metaldyne is positioned for continued growth and success as a global automotive manufacturing supplier.”

Metaldyne, headquartered in Plymouth, Michigan, has more than USD1bn in revenue and serves its customers with 4,000 employees at 25 facilities in 13 countries throughout North America, Europe, Latin America and Asia.

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