Gredes Holdings has been acquired by American Securities, a leading U.S. private equity firm.
"Grede is another example of our focus on identifying superior market-leading businesses," says Kevin S. Penn, American Securities' Managing Director. "We are excited to partner with Grede's exceptional management team, and believe the Company's operational excellence positions it well to benefit from continued growth in the auto and construction markets."
"For the next chapter in the Company's evolution, we look forward to partnering with American Securities to continue to expand our business and serve our customers," said Chief Executive Officer of Grede Douglas Grimm.
Grede is full service iron casting supplier to a customer base within the light vehicle, medium and heavy truck, and industrial end markets. Grede was recently named to Crain's Detroit Business' list of Fastest Growing Companies with the fifth largest growth rate in southeastern Michigan throughout the last four years.