A Westfield-based manufacturer has been acquired. Metal Powder Products says the deal by New York-based Millstein & Co. will not affect work force levels in Indiana.
The price of the transaction is not being disclosed. MPP is headquartered in Hamilton County, but its three production facilities are located in Pennsylvania. The company calls 2015 a record year and President Ben James says "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. 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."
MPP was previously owned by Revere Industries, which is based in Ohio, has a facility in Jeffersonville and previously had a large presence in Indianapolis.
Millstein Partner Michael Duran says "we are impressed by Metal Powder Products’ strong track record of innovation under the leadership of Ben James and his team of skilled professionals. 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. We look forward to working with Ben and his team to advance Metal Powder Products’ business."
MPP executives are now minority shareholders, having invested in the company along with Millstein. The company manufactures custom gears and sprockets, structural parts, high-strength aluminum parts and high-stress, wear and magnetic application components.