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 a small but growing niche operation seeking 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. Metro's founders sought a partner with a long-term view, who would work side-by-side with them to transform the 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 identified new warehouse locations, 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 institutionalize the Company's services and 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.