The Carlyle Group Sells Metaldyne to American Securities
Carlyle Leads Successful Turnaround of Metaldyne
NEW YORK -- December 19, 2012
Global alternative asset manager The Carlyle Group today 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
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.
Michael Stewart, Carlyle Managing Director and Co-Head of Carlyle Strategic
Partners, said, “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.”
Shary Moalemzadeh, Carlyle Managing Director said, “Metaldyne has been a
highly successful investment for our fund investors. We exceeded our
investment goals for Metaldyne, and we are gratified that the company is well
positioned for the future. Metaldyne’s talented management team and employees
should be proud of our collective accomplishments.”
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
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.
Metaldyne LLC is a leading global manufacturer of highly engineered
metal-based components for automotive and light vehicle engine, transmission
and driveline applications. Products include powder metal engine connecting
rods, engine bearing caps, engine cylinder oil jets, transmission sub
assemblies, forged differential gears and pinions, differential assemblies,
engine balance shaft modules, transmission shafts, and engine crankshaft
dampers. More information about Metaldyne can be found at www.metaldyne.com.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $157
billion of assets under management across 101 funds and 64 fund of fund
vehicles as of September 30, 2012. Carlyle's purpose is to invest wisely and
create value. Carlyle invests across four segments - Corporate Private Equity,
Real Assets, Global Market Strategies and Fund of Funds Solutions - in Africa,
Asia, Australia, Europe, the Middle East, North America and South America.
Carlyle has expertise in various industries, including: aerospace, defense &
government services, consumer & retail, energy, financial services,
healthcare, industrial, technology & business services, telecommunications &
media and transportation. The Carlyle Group employs 1,300 people in 32 offices
across six continents.
The Carlyle Group
Liz Gill, +1-202-729-5385
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