NEW YORK — Genstar Capital has entered into a definitive agreement for the sale of Prestolite Electric Holding to an affiliate of First Atlantic Capital. The transaction is expected to close in April 2004. Details of the transaction have not been provided.
Prestolite Electric is a global manufacturer of alternators and starter motors selling into high-margin, niche markets for heavy-duty, military and industrial applications. Headquartered in Ann Arbor, Mich., the company has U.S. operations in Arcade, N.Y.; Garfield, N.J.; and Florence, Ky.
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