GAAS 2008: Private Equity and the Aftermarket
“You can hardly pick up a newspaper without reading about the multi billion dollar funds buying up everything, everywhere, in every country,” said Dan Smith, president of Capstone Financial Group. Smith led a panel discussion on private equity at the 2008 Global Automotive Aftermarket Symposium in Chicago.
Learn More about Government Affairs and Private Equity’s Role in the Aftermarket and More
RESEARCH TRIANGLE PARK, N.C. – Aftermarket industry veterans and experts will discuss a wide range of topics focusing on the theme of "Shift Forward" at the 2008 Global Automotive Aftermarket Symposium (GAAS), which takes place Tuesday, May 20, and Wednesday, May 21, at the Hyatt Regency O’Hare in Chicago. "Let’s Know Them Before We Need
Autoliv’s CFO to Become Partner in Private Equity Firm
STOCKHOLM, Sweden — Magnus Lindquist, vice president and chief financial officer (CFO) of Autoliv Inc., has resigned from the company in order to become a partner in Triton, a European private equity firm with operations in the U.K., Germany and Sweden. His contractual notice period is six months. He will therefore remain in his current
Lund International Acquired by Two Cleveland, Ohio, Private Equity Firms
Lund International, a Georgia-based manufacturer of automotive accessories, has entered into an agreement to be purchased by Linsalata Capital Partners and Resilience Capital Partners, both based in Cleveland, Ohio. Lund manufactures automotive accessories under the AVS, Lund, Nifty, Deflecta-Shield Aluminum and Belmor brands.
GDX International to be Sold to Private Equity Firm
GDX International Holdings Ltd. (GDX), a global supplier of sealing systems and glass encapsulation products for the automotive sector, is being sold to MAPS Holdings Inc., an affiliate of Chicago-based private equity firm, Wynnchurch Capital. As part of this transaction, MAPS Holdings will acquire GDX’s global headquarters in Farmington Hills, MI, and the company’s operating facilities in New Haven, MO, Welland, Ontario, Guadalajara, Mexico, and Grefrath and Rehburg, Germany, as well as facilities in the Czech Republic and GDX’s joint venture operations in China.
Private Equity Firm Huron Capital Buys Advanced Refinish Technologies
Huron Capital Partners LLC, through its portfolio company, Quest Specialty Chemicals, has acquired Advanced Refinish Technologies. Terms of the transaction were not disclosed. Advanced Refinish Technologies manufactures and markets high-performance acrylic sealers, base coats, top coats and other coatings to automotive refinish and paint distributors across the U.S. for sale to collision and body shops. Through the acquisition, the company will be managed under Quest’s Automotive Aftermarket Unit, Matrix System Automotive Finishes, based in Walled Lake, MI. The company will relocate its operations to Quest facilities in Michigan and Wisconsin.
Private Equity Firm Affiliates to Acquire Trico Products
Affiliates of U.S. private equity firm Kohlberg & Co. have acquired Trico Products, Inc. from Tomkins plc. Trico Products is a global manufacturer of integrated wiper systems for OEM and aftermarket applications. The company sells to more than 20 OEM customers across some 50 vehicle platforms around the world. The company has design centers and factories in the U.S., Mexico, Europe, Latin America and Asia.
Former Pep Boys CEO Larry Stevenson Named Managing Director of Canadian Private Equity Firm
Toronto-based private equity firm Callisto Capital LP has appointed former Pep Boys CEO Larry Stevenson as managing director. Most recently Stevenson was the CEO of Pep Boys, a $2 billion automotive services and retail company. Stevenson resigned from Pep Boys in July of 2006, amid pressure from the company’s two largest shareholders to turn around the business and prop up falling stock prices.
Private Equity Acquisition of Activant Completed; Pervez Qureshi Named President and CEO
The acquisition of Activant Solutions by private equity firms Hellman & Friedman LLC, Thoma Cressey and JMI Equity was completed May 2. Pervez Qureshi has been named president and chief executive officer of the company. An Activant employee since 1994, Qureshi has developed extensive knowledge of the company’s customers and key markets through the broad range of executive positions he has held during his tenure with the company.
Activant Sold to Two Private Equity Firms
Activant Solutions has signed a definitive agreement to be acquired by two private equity investment firms, Hellman & Friedman and Thoma Cressey Equity Partners. The firms will acquire Activant Solutions Holdings Inc. and all its subsidiaries from HM Capital Partners LLC. Terms of the deal were not disclosed. Activant declined to comment on the sale. Those involved in the deal are prohibited from commenting, according to the 8-K filing. However, one recent news report indicated that 100 percent of the company, as well as the management team, were included in the deal.