Metal Powder Products, a Westfield-based manufacturer, has been acquired by New York-based private equity firm Millstein & Co., the companies announced Monday.
Westfield-based Revere Industries LLC sold MPP to Millstein for an undisclosed amount. MPP has been part of Revere since 2005.
MPP, founded in 1946, has more than 300 employees, including eight at the corporate headquarters in Westfield. Most of its employees work in Pennsylvania at manufacturing plants in St. Mary’s and Ridgway.
The company has sales of about $15 million per year.
MPP makes custom-engineered powder metallurgy products such as gears, rods, plates and sprockets for the automotive, power tool and other industries.
Millstein said existing MPP executives made equity investments in the company as part of the sale, becoming minority shareholders.
“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 MPP President Ben James in a written statement. “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.”