Metal Powder Products, a manufacturer of aluminum and ferrous powder metal components, announced today that it has been acquired by Millstein & Co, a diversified investment management and financial services firm.
Headquartered in Indiana, USA, Metal Powder Products makes powder metallurgy products for the automotive, lawn and garden and basic industrial sectors, specializing in material formulation, sintering, densification and powder metallurgy joining techniques. The company’s three production facilities, all based in Pennsylvania, make various components including gears and sprockets, structural parts, aluminum parts and components for use in high stress, wear and magnetic applications.
Millstein Capital, the firm’s private equity business, focuses on control-oriented investments in the financial services, technology, industrial, consumer and technology-enabled business services sectors in the United States. The Millstein team has experience owning and operating industrial companies and manufacturing businesses similar to Metal Powder Products, which was formerly a subsidiary of Revere Industries, a manufacturer of high-performance metal and plastic components based in Indiana.
Future potential
‘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 aluminum capabilities,’ said Michael Duran, a partner at Millstein & Co.
‘We plan further investments in automation, material flow and capacity, working closely with our customers to meet and exceed their requirements,’ added Millstein operating partner Chuck Spears.
Metal Powder Products executives have also made equity investments into the company, becoming minority shareholders.
This story is reprinted from material from Metal Powder Products, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
