M&A Deal Summary

Gamut Capital Management Acquires Grede

On September 18, 2019, private equity firm Gamut Capital Management acquired automotive company Grede from American Axle & Manufacturing for 245M USD

Acquisition Highlights
  • This is Gamut Capital Management’s 2nd transaction in the Automotive sector.
  • This is Gamut Capital Management’s largest (disclosed) transaction.
  • This is Gamut Capital Management’s 3rd transaction in the United States.
  • This is Gamut Capital Management’s 1st transaction in Michigan.

M&A Deal Summary

Date 2019-09-18
Target Grede
Sector Automotive
Buyer(s) Gamut Capital Management
Sellers(s) American Axle & Manufacturing
Deal Type Divestiture
Deal Value 245M USD

Target

Grede

Southfield, Michigan, United States
website
Grede is a producer of engineered iron castings to the automotive, medium and heavy truck, and industrial markets. Grede supplies a broad variety of ductile, gray, and high silicon moly iron castings to a diverse customer base. The company’s products include safety-critical chassis, suspension, and drivetrain components for automotive applications, highly engineered engine and chassis components for heavy-duty truck engines, and large axle housings and other drive train components for heavy equipment and agriculture markets. Grede was founded in 1920 and is based in Southfield, Michigan.

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Buyer(S) 1

DESCRIPTION

Gamut Capital Management is a private equity group focused on investing $50 to $150 million in middle market US-based companies. Target sectors include agriculture, chemicals, telecom, industrials, mining, power, distribution, technology, energy and transportation. Gamut’s flexible investment strategy incorporates leveraged buy-outs, corporate carve-outs, strategic partnerships, and distressed-for-control situations. Gamut Capital Management was formed in 2015 and is based in New York City.


DEAL STATS #
Overall 4 of 8
Sector (Automotive) 2 of 2
Type (Divestiture) 1 of 2
State (Michigan) 1 of 1
Country (United States) 3 of 7
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-06 IAC Group

Luxembourg, Luxembourg

IAC Group is a provider of automotive components and systems, including instrument panels, console systems, door panels, headliners and overhead systems to automakers around the world. IAC Group was founded in 2006 and is based in Luxembourg.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-25 PS Logistics

Birmingham, Alabama, United States

PS Logistics is a full-service logistics solution provider with over 2000 flatbed assets, vans, step decks/RGN's, brokerage division, transportation management and 3PL, and dedicated fleet operations. PS Logistics is based in Birmingham, Alabama.

Buy -

Seller(S) 1

SELLER

American Axle & Manufacturing

Detroit, Michigan, United States

website


Category Company
Founded 1994
Sector Automotive
Employees19,000
Revenue 5.8B USD (2022)
DESCRIPTION
Entrance to American Axle & Manufacturing's corporate headquarters in Detroit, Michigan.
Entrance to American Axle & Manufacturing's corporate headquarters in Detroit, Michigan.

American Axle & Manufacturing is a manufacturer of automobile driveline and drivetrain components and systems for commercial vehicle and industrial markets. American Axle & Manufacturing Holdings was incorporated in 1994 and is based in Detroit, Michigan.


DEAL STATS #
Overall 1 of 1
Sector (Automotive) 1 of 1
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-03 Metaldyne Performance Group

Plymouth, United States

Metaldyne Performance Group, Inc. is a provider of highly-engineered lightweight components for use in powertrain and suspension applications for the global light, commercial and industrial vehicle markets. MPG produces these components and modules using complex metal-forming manufacturing technologies and processes for a global customer base of vehicle OEMs and Tier I suppliers. MPG has a global footprint spanning more than 60 locations in 13 countries across North America, South America, Europe and Asia with approximately 12,000 employees.

Buy $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-11 Tekfor

Hausach, Germany

Tekfor engages in the development and production of pioneering solutions for transmissions, engines, drivelines, special applications, and safety fasteners. Tekfor Holding GmbH has nine manufacturing facilities across Germany, the US, Brazil, Mexico, and Italy. Tekfor is based in Hausach, Germany.

Buy €125M