Indiana’s Metal Powder Products announced last Friday that it had been acquired by Millstein & Co., L.P., a Manhattan financial services firm. Metal Power Products is a manufacturer of aluminium and ferrous powder metal components with facilities in Ridgway and St. Marys, both in Pennsylvania.
“We are impressed by Metal Powder Products’ strong track record of innovation under the leadership of Ben James and his team of skilled professionals,” said Michael Duran, a partner at Millstein & Co. “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.”
“Metal Powder Products’ three factories in Pennsylvania produce excellent quality products that delight customers,” said Chuck Spears, a Millstein & Co. operating partner. “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.”
At the same time of Millstein & Co.’s acquisition of MPP, existing Metal Powder Products executives have also made equity investments into the company, becoming minority shareholders as a result.
“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,” said President of Metal Powder Products Ben James. “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.”
Metal Powder Products, formerly a subsidiary of Revere Industries, custom engineers metallurgy projects for automotive, lawn & garden, and basic industrial sectors. It develops processes for material formulation, sintering, densification, and powder metallurgy joining techniques. MPP’s facilities in Pennsylvania all engage in the production of various components, including custom-engineered gears and sprockets, complex structural parts, high strength aluminium parts and components requiring unique mechanical and physical properties, for use in high stress, wear, and magnetic applications.