The Carlyle Group Sells Metaldyne to American Securities

NEW YORK--(BUSINESS WIRE)--

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 not disclosed.

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 and Asia.

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.

About Metaldyne

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 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.

www.carlyle.com
www.youtube.com/onecarlyle
www.twitter.com/onecarlyle