LBO'd auto parts maker Metaldyne sets terms for $300 million IPO

Metaldyne Performance Group, a LBO'd producer of automobile powertrain and safety components, announced terms for its IPO on Monday. The Plymouth, MI-based company plans to raise $300 million by offering 15.4 million shares at a price range of $18 to $21. At the midpoint of the proposed range, Metaldyne Performance Group would command a market value of $1.3 billion.

Metaldyne Performance Group, which was founded in 2005 and booked $3.1 billion in sales for the 12 months ended September 30, 2014, plans to list on the NYSE under the symbol MPG. BofA Merrill Lynch, Goldman Sachs, Deutsche Bank, Barclays, Credit Suisse and RBC Capital Markets are the joint bookrunners on the deal.