Metal Powder Products, headquartered in Westfield, Indiana, USA, has announced that it has been acquired by Millstein & Co., a diversified investment management and financial services firm. Metal Powder Products has three production facilities based in Pennsylvania and specialises in the production of Powder Metallurgy components, including custom-engineered gears and sprockets, complex structural parts, high strength aluminium parts and components for use in high stress, wear and magnetic applications.
The Millstein team has extensive experience owning and operating industrial companies and manufacturing businesses similar to Metal Powder Products. Metal Powder Products was formerly a subsidiary of Revere Industries, a leading manufacturer of high-performance metal and plastic components based in Indiana.
“Metal Powder Products’ three factories in Pennsylvania produce excellent quality products that delight customers,” stated Millstein & Co. Operating Partner Chuck Spears. “We are impressed with the teamwork and productivity of the workforce as they strive for excellence. We plan further investments in automation, material flow and capacity, working closely with our customers to meet and exceed their requirements.”
Metal Powder Products experienced a record year in 2015 and is well positioned to capitalise on market trends. “We are impressed by Metal Powder Products’ strong track record of innovation under the leadership of Ben James and his team of skilled professionals. The company’s powder metal expertise has enabled it to deliver dynamic growth and we see great future potential driven by the company’s market-leading aluminium capabilities. We look forward to working with Ben and his team to advance Metal Powder Products’ business,” stated Michael Duran, a Partner at Millstein & Co.
It was announced that existing Metal Powder Products executives have also made equity investments into the company, becoming minority shareholders. “The investment from Millstein & Co. strengthens Metal Powder Products’ position for continued growth as a leading supplier of innovative, custom-engineered products in the powder metal industry,” stated Ben James, President of Metal Powder Products. “My team is extremely excited for the opportunity to work with Millstein & Co. and I am confident that together we can successfully build on the scalable growth of our business.”