Metaldyne Performance Group (MPG) IPO Opens Modestly Higher

Toay's IPO for Metaldyne Performance Group (NYSE: MPG) opened for trading at $15.25 after pricing 10,000,000 shares of common stock at a price to the public of $15 per share, below the expected $18-$21 range.

All of the shares in the offering are being offered by an affiliate of American Securities LLC, ASP MD Investco LP. In addition, the Selling Stockholder has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares.

BofA Merrill Lynch, Goldman, Sachs & Co., Deutsche Bank Securities Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated is acting as lead co-manager for the offering and KeyBanc Capital Markets Inc. and Nomura Securities International, Inc. are acting as co-managers for the offering.

Metaldyne Performance Group Inc. is a leading provider of highly-engineered components for use in powertrain and safety-critical platforms for the global light, commercial and industrial vehicle markets. MPG produces these components using complex metal-forming manufacturing technologies and processes for a global customer base of vehicle OEMs and Tier I suppliers. MPG's metal-forming manufacturing technologies and processes include aluminum die casting, forging, iron casting and powder metal forming as well as advanced machining and assembly. Headquartered in Plymouth, Michigan, MPG has a global footprint spanning 61 locations in 13 countries across North America, South America, Europe and Asia with approximately 12,000 employees.

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