Grede acquired by American Securities LLC

Grede announces it has officially been acquired by the private equity firm American Securities LLC.

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Grede Holdings LLC, a leading producer of cast, machined and assembled components for transportation and industrial markets, announces that the sale of its operations has been completed to American Securities LLC, a leading U.S. private equity firm, in partnership with the company’s management team. Grede had been majority owned by a private investment fund managed by Wayzata Investment Partners LLC. Financial terms of the transaction were not disclosed.

“Grede has established a successful track record highlighted by strong revenue growth, best-in-class operations, reputation for quality and reliability, and our long-standing customer relationships,” says Doug Grimm, Chief Executive Officer, Grede. “For the next chapter in the company’s evolution, we look forward to partnering with American Securities to continue to expand our business and serve our customers.”

Grede is the most diversified iron casting supplier and the number one producer of ductile iron castings in North America. The company is a long-standing, full-service supplier to a blue chip customer base within the light vehicle, medium and heavy truck, and industrial end markets.

Grede’s products include safety critical chassis, suspension and drivetrain comoponents for automotive applications, highly engineered engine and chassis components for heavy duty truck engines, and large axle housings and other drivetrain components for heavy equipment and agriculture markets.

Grede operates 17 facilities throughout North America with approximately 4,700 employees. Grede was recently named to Crain’s Detroit Business’ list of the Fastest Growing Companies in southeast Michigan with the fifth highest growth rate in southeast Michigan over the last four years.

“Grede is another example of our focus on identifying superior market-leading businesses,” says Kevin S. Penn, Managing Director, American Securities. “We are excited to partner with Grede’s exceptional management team, and believe the company’s operational excellence positions it well to benefit from continued growth in the auto and construction markets.”

Weil, Gotshal & Manges LLP served as legal counsel to American Securities, and Stroock & Stroock & Lavan LLP served as legal counsel to Grede.