In August 2002, MCP purchased a significant stake in Metro, one of the largest warehousers of non-ferrous metals for customers of the London Metal Exchange. Metro operates a global network of approved LME warehouses, with operations in Detroit, New Orleans, Long Beach, Italy, and the United Kingdom. LME warehouses play a critical role in the operation of the exchange, enabling metal producers, traders, and consumers to make or take delivery of approved metal and underpinning the worldwide physical metal trade.
Founded in 1990 by its current managers, Metro has grown since its inception by storing additional types of metal and opening additional locations. The investment reflects the conviction of both MCP and Metro's founders that MCP can assist Metro in pursing further attractive expansion opportunities.
In February 2010, MCP and Metro's founder sold the company to Goldman Sachs.
Date of Investment: August 2002
Web site: www.metroftz.com