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Manufacturers hunt for deals amid pandemic wreckage The COVID-19 pandemic has been a disaster for many U.S. manufacturers, but it is also creating acquisition opportunities. Cary Wood, chief executive of Grede Holdings LLC, saw business plunge 90% earlier this year as the auto plants and heavy equipment producers that use his metal parts shut down, followed by a bumpy recovery. But he’s upbeat these days and, in the last two months, he’s opened negotiations aimed at acquiring seven smaller foundries. “I can wait out the cycle,” Wood said, “but many of these guys can’t.” Grede, carved out of publicly traded American Axle & Manufacturing Holdings Inc last year, is backed by a private equity firm and was already hunting for acquisitions before the crisis hit. But Wood said the rate of deal talks is far higher than a year ago, when he was running the foundry company that merged with Grede as part of the buyout. And it is similar to a wave of restructuring he saw just af

United statesWest monroeTimothy aeppelScott fuzerAustin ramirezDan burnsEdward tobinJoe bidenCary woodSanjay singhIngersoll rand incHusco international incGrede holdingsAmerican axle manufacturing holdings incMace security international incUnited states steel corp