Auto parts maker Metaldyne Performance files for IPO-Reuters

(Reuters) – American Securities LLC-backed auto parts maker Metaldyne Performance Group Inc filed with U.S. regulators for an initial public offering of its common shares.

Merrill Lynch, Pierce, Fenner & Smith, Goldman Sachs and Deutsche Bank Securities Inc are the lead underwriters for the offering, the company said.

The filing, which included a fundraising target of about $150 million, did not reveal how many shares the company planned to sell or on which exchange it intended to list its stock.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

Metaldyne, which intends to list its stock under the symbol “MPG”, said all the shares in the offering would be sold by the selling stockholders.

Plymouth, Michigan-based Metaldyne makes metal-based components for the light-vehicle market. Its customers include as General Motors Co, Ford Motor Co and TRW Automotive Holdings Inc.

Reuters reported in June private equity firm American Securities was looking to merge three of its auto parts manufacturing companies and take the combined company public at a valuation of around $4 billion, including debt.

American Securities, which acquired Metaldyne from Carlyle for more than $800 million in 2012, also owns auto parts manufacturer HHI Group Holdings LLC and Grede Holdings LLC. American Securities

Leave a Reply

PEHUB Community

Join the 12504 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget