BB&T’s Tony Cristello to Lead Executive-Level Discussion at AASA Executive Breakfast
Panel will look “Under the Hood” at how private equity is changing the automotive aftermarket.
Japan’s Itochu Corp. is New Owner of Kwik-Fit
According to news reports, U.S. private equity firm Clayton Dubilier & Rice, which owns car rental company Hertz, and Bridgestone, which was a bidder when PAI bought Kwik-Fit in 2005, are also said to have been considering bids.
AAIA Participates in Capital Roundtable in New York City
AAIA President and CEO Kathleen Schmatz moderates panel before private equity community. More than 60 representatives of middle-market private equity firms attended the event held at the University Club on Feb. 3.
EP Management Corp. Selling Wolverine Advanced Materials to Wynnchurch Capital
With private equity support, Wolverine will focus on global growth and industry diversification.
Advantage Truck Accessories and Torza Inc. Acquired by THI
Formed in November 2007 by Kinderhook Industries LLC, a New York-based private equity firm, THI is a growing family of respected aftermarket truck product brands.
Polk and Ducker, Findlay, Swoboda & Associates Collaborate to Help Aftermarket Companies Build More Business
The two companies say the combined strengths of their organizations will provide aftermarket manufacturers, distributors, retailers and private equity firms with the unique information, strategic analysis and consulting resources they need to supplement their own internal market intelligence and strategic planning efforts.
MD Investors Acquires Most of Metaldyne’s Assets at Auction
MD Investors is a new company formed by a coalition of Metaldyne’s existing term lenders led by The Carlyle Group, a well-respected private equity firm, and Solus Alternative Asset Management LP, an SEC-registered investment adviser.
New York Financier Steven Rattner Named Lead Adviser for Auto Industry Bailout
In 2000, Rattner co-founded the Quadrangle Group, the media-focused private equity firm that he is now leaving to take the Treasury position.
Continental Looking for Financial Support to Fend off Schaeffler
A report from the Wall Street Journal indicates that Continental AG is working to gather support in its fight against an unsolicited takeover attempt by Schaeffler Group. According to the WSJ, Continental has held discussions with TPG Capital, a U.S. private equity firm, and also added Citigroup and HSBC Holdings to its lineup of financial advisers.
Delphi Loan Falls Apart: Future Uncertain for Auto Supplier
After 30 months of wrangling with the UAW, General Motors Corp. and a parade of private equity players, Delphi Corp. Chairman Steve Miller appeared close to wrapping up one of his most important turnarounds. Lenders, vendors, GM representatives and more assembled Friday morning to complete the paperwork on a $6.1-billion loan that would lead the nation’s largest auto parts maker out of bankruptcy and back on its own two feet. But one of the company’s owners, hedge fund Appaloosa Management LP, didn’t show up and instead pulled out of its contract with the supplier, saying Delphi violated a deal that would have pumped another $2.5 billion into the company.