Metaldyne in top three of Michigan’s fastest growing companies
August 10, 2016
In a listing of the fifty fastest growing companies in Michigan between 2012 and 2015 compiled by Crain’s Detroit Business, a sibling publication of Automotive News, Metaldyne Performance Group Inc. (MPG) was listed in the top three.
The Top 50 companies contained seven suppliers to the automotive sector, and the rankings are a combination of absolute and percentage gains in Dollar revenue over the period. Metaldyne, which is based in Southfield, Michigan, is a global automotive supplier producing precision-engineering components for powertrain applications including Powder Metallurgy, Metal injection Moulded and Powder Forged components. The company was acquired by private equity firm American Securities in 2012.
MPG was listed third among the top fifty companies after showing an impressive growth in revenue from $1.10 billion in 2012 to $3.05 billion in 2015, representing an increase of 177%. This was said to have been achieved by the merger with $1 billion companies Grede Holdings LLC and HHI Group Holdings both majority owned also by American Securities to create the $3 billion MPG in 2014.