Impact Forge, a Columbus-born maker of vehicle and machine parts, has a new parent company.
American Securities LLC acquired the local business, located northeast of the intersection of State Road 58 and Interstate 65, upon purchasing HHI Group Holdings. Details of the deal have not been released.
Bob Stevens and three former co-workers from North Vernon Forge opened Impact Forge in the mid-1980s. The building’s location helped attract other businesses to the Woodside Industrial Park.
HHI bought Impact Forge and its sister factories in 2006, and Stevens retired a year later. As of 2008, Impact Forge had created more than 600 jobs in Columbus.
The Columbus plant, which makes vehicle and industrial parts for engines, transmissions and drivetrains, now employs about 200. Customers include Ford and Toyota.
“HHI is an excellent fit in our portfolio as a leader in its market of highly specialized products,” said Kevin S. Penn, managing director of American Securities, in a press release. “We look forward to working with a highly talented management team as we continue to strengthen and grow this business in the automotive component market.”
American Securities is a New York-based private equity firm that invests in North American companies “generally ranging from $500 million to $2 billion,” according to a news release.
At a glance
Impact Forge, 2805 W. Norcross Drive, located in the Woodside Industrial Park on the south side of Columbus, makes vehicle and industrial parts for engines, transmissions and drivetrains.
It employs about 200 people. Customers include Ford and Toyota.
American Securities LLC has purchased the plant from HHI Group Holdings, which had purchased the plant and its sister holdings in 2006.
Impact Forge was started in the mid-1980s by Bob Stevens and three former co-workers from North Vernon Forge.
Think your friends should see this? Share it with them!comments powered by Disqus
All content copyright ©2013 The Republic, a division of Home News Enterprises unless otherwise noted.