Current Portfolio Companies - ICG Castings, Inc.
ICG Castings, Inc. Engineered Aluminum Die Casting
Dowagiac, Michigan
BUSINESS: ICG Castings, based in Dowagiac, Michigan, is a leading aluminum die caster serving the automotive industry.
TRANSACTION: Wynnchurch purchased ICG through a chapter 11 bankruptcy purchase in 2003.
CHALLENGE: The difficulties at ICG's former parent had depressed the company's growth for several years, as prospective customers awaited a potential sale of the business before awarding new business.
OPPORTUNITY: ICG has a high-quality reputation, particularly with automotive OEM's.
STRATEGY: Wynnchurch and ICG management quickly worked together to secure a new, five-year collective bargaining agreement with its union. ICG, with more than 200 employees, realized significant benefits from the agreement. This helped support investment in such state-of-the-art technologies as computer-aided design and multi-slide tooling.
RESULT: ICG has strengthened its market position with such leading automotive customers as GM Truck Group and Chrysler Corporation. All major customers have presented awards recognizing ICG's high quality.