Aug 22 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. (bit.ly/1q5sqoY)
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
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.
(Reporting By Neha Dimri in Bangalore; Editing by Saumyadeb