Carlyle Strategic Partners has announced the sale of Metaldyne LLC to American Securities LLC for an undisclosed amount. The venture capital firm bought the firm in October 2009.

Private equity firm American Securities has more than US$8bn under management, according to a statement issued by Metaldyne.

The Plymouth, Michigan-based supplier has over US$1bn in annual revenues, 4,000 employees and 25 facilities located in 13 countries throughout North America, Europe, Latin America, and Asia. 

“We are proud of our commitment to operational excellence, differentiating technology, and continuous improvement,” said Thomas Amato, president and CEO of Metaldyne. “We look forward to partnering with American Securities to accelerate the growth of our company and to continue our global collaboration with our customers.”

American Securities closed its sixth fund in June 2012 with approximately US$3.6bn of committed capital. American Securities’ other investments in the automotive sector include HHI Group Holdings, a manufacturer of forged components, hub unit bearings, and engine timing systems, and GT Technologies, a manufacturer of valvetrain components.

“Our acquisition of Metaldyne is another example of American Securities’ strategy of investing in market-leading companies,” said Kevin S. Penn, managing director at American Securities. “We are excited to make an investment in Metaldyne because the company has an exceptional management team and a solid growth trajectory. We anticipate continued growth for the auto industry as it recovers globally, and Metaldyne is well positioned to take advantage of that opportunity.”

Author: Glenn Brooks