Metro

"We were a small but growing niche operation and seeking a strategic partner that would help us achieve more measured growth and determine the best way to provide liquidity to our founders."

"We were in sync with MCP from day one. At our first board meeting with them, they said – 'Let's see, how we can make this a better company, a faster growing company.' They never told us 'you need to do this'; it was always, 'this might be a good idea'; and it always was. They were great partners."

"We weren't interested in a quick flip; we wanted to continue to be involved in the growth of the company. MCP helped us take a long-term view – identifying new warehouse locations, strengthening our relationship with the LME and institutionalizing our services. They understood our business and helped us become the strongest player in the LME. With their guidance, Metro was transformed into a truly dynamic business. We made the right decisions with their help."

Bill Whelan, Metro CEO and President

Metro International Trade Services is a leading warehouse company for non-ferrous metals. Founded in 1990 and headquartered in Detroit, the Company runs a global network of London Metal Exchange approved warehouses for metals such as aluminum, aluminum alloy, copper, lead, nickel, steel, tin and zinc.

By the end of 2001, Metro operated sixteen LME-dedicated facilities in four cities in the U.S. and Europe, with approximately 420,000 tons of non-ferrous metal stocks. The Company was growing but sought strategic guidance to accelerate its growth, continue its international expansion, establish new corporate governance practices and identify a path to liquidity for its founders while ensuring the long-term vitality of the Company. Metro approached Monitor Clipper Partners based on MCP's expertise and contacts in global commodities, its reputation for business building and value enhancement and its direct experience in the metals business. In August of 2002, MCP made an investment in Metro and took an active role on its Board of Managers.

During its eight-year investment, MCP helped Metro diversify across metal types and geographies, strengthen its relationship with the LME as well as other exchanges, create new commercial programs, hire key senior managers and restructure the organization to implement a long-term growth and exit strategy.

By early 2010, Metro had expanded to more than 100 warehouses in 21 cities in the U.S., Europe and Asia and had experienced a dramatic increase in metal stocks.  In February of that year, Metro was acquired by Goldman Sachs.  The transaction was a success for the founders of Metro and MCP.