From Staff & Wire Reports
A press statement issued yesterday by FdG Associates, a private equity company based in New York City, indicated that it is assisting Hercules Tire & Rubber Co. to “recapitalize its business in partnership with management.”
According to the statement, “This transaction will allow Hercules to strengthen its financial base, further develop its private label program, solidify its position in the distribution of private label and branded tires and capitalize on growth opportunities. Hercules’ relationships with its customers and suppliers will remain unchanged.”
No other information was made available, and, according to the press statement, “further details will be made available shortly when the transaction closes.”
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