Holding company consolidates forging, foundry brands, de-emphasizing legacy names
- Powertrain and suspension parts
- Diecasting, forging, ferrous casting
- Combination is “stronger”, exec says
Metaldyne Performance Group was formed in 2014 by a private-equity group, American Securities LLC, which established a single holding company for two forging organizations (Metaldyne, HHI) and a large automotive foundry group (Grede Holdings.) Each of those entities also included a number of legacy brands,
Metaldyne Performance Group is consolidating all of its various legacy brand names under a common label. Michigan-based MPG manufactures powertrain and suspension parts for automotive, commercial, and industrial vehicle markets, at 36 U.S. sites and totaling about 60 locations in Asia, Europe, and Central and South America. The move means that a number of longstanding brands will be offered under the MPG label.
MPG’s manufacturing processes include aluminum diecasting, forging, gray and ductile iron casting, and powder metal forming. It also has precision machining and assembly operations. Among the well-known brands to fall under the MPG moniker are FormTech, Grede, HHI, Impact Forge, and Metaldyne.
The group stated that reorganizing itself as a singe brand reflects the unified state of the organization, although all the legal entities and reporting segments in the company will remain intact.
“The change to MPG reflects an ongoing integration of great companies that provide global customer solutions using advanced engineering and product development expertise,” stated president and COO Doug Grimm. “Our former iconic brands combine to make a stronger ‘One MPG’ and will further enhance our progress towards our long-term growth targets.”
Metaldyne Performance Group was formed in 2014 by a private-equity group, American Securities LLC, which established a single holding company for two forging organizations (Metaldyne, HHI) and a large automotive foundry group (Grede.) Each of those entities also included a number of legacy brands, such as Blackhawk Foundry, Citation, Cloyes, NovoCast, and Jernberg.
At the end of 2015, American Securities made a public offering of MPG stock, retaining its position as majority shareholder.
“Our business was formed nearly two years ago through a combination of three metal-forming technology manufacturing companies,” stated MPG CEO George Thanopoulos. “Integration has gone exceptionally well and exactly as planned. As such, we can now take the next step to brand ourselves solely as MPG.”