Wed, 04/06/2014 - 10:31
Private equity firm American Securities, in partnership with the existing management team, has completed its acquisition of Grede Holdings, a producer of cast, machined and assembled transportation market components.
Grede had been majority owned by a private investment fund managed by Wayzata Investment Partners. Financial terms of the transaction have not been disclosed.
“Grede has established a successful track record highlighted by strong revenue growth, best-in-class operations, reputation for quality and reliability, and our long-standing customer relationships,” says Doug Grimm, chief executive officer, Grede. “For the next chapter in the company’s evolution, we look forward to partnering with American Securities to continue to expand our business and serve our customers.”
Grede’s products include safety critical chassis, suspension and drivetrain components for automotive applications, highly engineered engine and chassis components for heavy duty truck engines, and large axle housings and other drivetrain components for heavy equipment and agriculture markets.
“Grede is another example of our focus on identifying superior market-leading businesses,” says Kevin S Penn, managing director, American Securities. “We are excited to partner with Grede’s exceptional management team, and believe the company’s operational excellence positions it well to benefit from continued growth in the auto and construction markets.”
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