Private Equity Groups

TI Automotive to be acquired by Bain for $2.4 billion, report says

8:36 am U.S. ET | Jan. 27, 2015
Global fuel systems supplier TI Automotive, after months of wrangling and speculation, said today it has agreed to be acquired by private equity firm Bain Capital LLC. The deal is valued at $2.4 billion, sources told Bloomberg....
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Soros is ready to move on auto dealerships

3:40 pm U.S. ET | Jan. 26, 2015
Wall Street powerhouse Soros Fund Management is ready to move on a deal to acquire auto dealerships, a representative of the fund said at a private dinner Saturday in San Francisco, according to two sources who attended the event. Soros is prepared to invest as much as $1 billion on dealerships, one of the sources said....
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RICHARD JOHNSON

A new Gold Rush sweeps over California

12:45 pm U.S. ET | Jan. 25, 2015
Like Warren Buffett and George Soros, so-called hybrid buyers -- private equity funds and super-wealthy families and combinations of the two -- are on the hunt for dealership deals. This new category of dealership buyer could turn out to be as transformational as the six public groups that rolled up a significant part of the industry almost 20 years ago....
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AMY WILSON

How to get a deal done

2:00 pm U.S. ET | Jan. 25, 2015
One of the reasons it might be a great time to sell your dealership? Some of the private equity groups scouting auto retail are so eager to put their investors' money to work, they'll overpay, says Tim York, managing partner of accounting firm Dixon Hughes Goodman....
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THE TAKATA AIRBAG RECALL

Takata airbag review panel members named by Skinner

10:52 am U.S. ET | Jan. 20, 2015
Former Transportation Secretary Samuel Skinner said six experts -- including Cerberus Chairman John Snow -- will serve on an independent panel that will oversee Takata's efforts to ensure that its airbag inflators meet federal safety standards....
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TI Automotive, Bain near deal a year after failed effort, report says

9:10 am U.S. ET | Jan. 14, 2015
TI Automotive, the auto fuel-systems maker that came close to a deal with Bain Capital Partners LLC last year, is again near an agreement to sell itself to the private equity firm, people with knowledge of the matter told Bloomberg....
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Hendrick aims to keep legacies rolling

12:01 am U.S. ET | Dec. 1, 2014
Taking care of legacy employees is critical for closing the acquisition of a dealership, buy-sell advisers say....
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Carlyle’s Axalta auto-paint company rises in trading debut

4:16 pm U.S. ET | Nov. 12, 2014
Axalta Coating Systems, the former DuPont auto-paint unit now backed by Carlyle Group LP, rose in its first day of trading after raising $975 million in an initial public stock offering....
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Rivals see Buffett as just another competitor

12:01 am U.S. ET | Oct. 25, 2014
Warren Buffett's entry into automotive retailing may mean more overall competition for acquisitions, but public dealership groups expect no interruptions to their growth plans....
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LaSorda's VC firm adds Zetsche, Magna to 2nd investment fund

10:33 am U.S. ET | Oct. 14, 2014
Tom LaSorda, the former CEO of Chrysler and Fisker, says his venture-capital firm has begun making investments out of its second fund, which he said raised almost $10 million and has added Daimler Chairman Dieter Zetsche and Magna International to its list of investors....
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What, me worry? Hendrick says deal-hungry Buffett won't keep him from buying

12:01 am U.S. ET | Oct. 13, 2014
Car dealer Rick Hendrick has a message for auto retailers looking to sell their family business: He's still buying....
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Dealership consolidation is coming -- but how fast and how much?

12:01 am U.S. ET | Oct. 13, 2014
Dealership consolidation is expected to accelerate as Warren Buffett's entry into automotive retailing attracts more buyers, observers said....
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'THIS IS JUST THE BEGINNING'

Buffett's Van Tuyl purchase puts top retailers in cross hairs

12:01 am U.S. ET | Oct. 6, 2014
When Warren Buffett signed a deal to buy Van Tuyl Group last week through his Berkshire Hathaway Inc. investment company, he clearly signaled that the top four dealership groups are in his sights. With Buffett at its helm, the country's fifth-biggest dealership group is about to get a lot bigger....
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$4 billion deal? A win all around, experts say

12:01 am U.S. ET | Oct. 6, 2014
Experts in dealership buy-sells estimate Warren Buffett's Berkshire Hathaway Inc. paid $4 billion for Van Tuyl Group....
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Buffett to buy Van Tuyl Group, create Berkshire Hathaway Automotive

8:40 am U.S. ET | Oct. 2, 2014
Warren Buffett's Berkshire Hathaway agreed to buy Van Tuyl Group, the largest privately owned auto dealership group in the United States. The business, with 75 dealerships at the end of last year, will be renamed Berkshire Hathaway Automotive....
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Icahn-controlled Federal-Mogul to split into two public companies

9:11 am U.S. ET | Sept. 3, 2014
Carl Icahn-controlled auto supplier Federal-Mogul Holdings said today it plans to split its two business units into two publicly-traded companies....
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Hong Kong firm acquires majority stake in supplier Key Safety Systems

12:46 pm U.S. ET | Aug. 29, 2014
Hong Kong private equity firm FountainVest Partners completed a deal to become the majority shareholder in automotive safety products supplier Key Safety Systems. The deal could be worth as much as $800 million, a Bloomberg report out of China said in April....
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Supplier Metaldyne Performance files for stock offering

8:16 am U.S. ET | Aug. 23, 2014
Metaldyne Performance Group, a holding company for three auto suppliers merged earlier this month by private equity firm American Securities LLC, filed with federal regulators for an initial public offering of its common shares....
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Auto-paint supplier seeks $1 billion from IPO, report says

11:20 am U.S. ET | Aug. 14, 2014
Axalta Coating Systems, DuPont's former auto-paint unit, is working with Citigroup and Goldman Sachs on an initial public stock offering with hopes of raising $1 billion, people familiar with the matter told Bloomberg....
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SPECIAL REPORT

Obama aides let Delphi avoid taxes with 'inversion' tactic now assailed

12:34 am U.S. ET | Aug. 6, 2014
President Obama says U.S. corporations that adopt foreign addresses to avoid taxes are unpatriotic. But the administration helped one $20 billion American company, Delphi Automotive, do just that....
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TI Automotive plans debt-fueled dividend for hedge fund owners, report says

8:20 am U.S. ET | June 21, 2014
TI Automotive’s hedge fund owners that include Oaktree Capital Group LLC will reap a $435 million dividend by saddling the longtime auto supplier with more debt for the second time in two years....
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Iron castings supplier Grede completes sale to private equity firm

1:58 pm U.S. ET | June 3, 2014
Grede Holdings, which supplies specialty iron castings to automakers, said it completed the sale of its operations to private equity firm American Securities LLC....
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DealerSocket, Vista Equity Partners in investment talks

2:48 pm U.S. ET | May 8, 2014
The owners of DealerSocket, a leading provider of customer-retention software to dealerships, are in investment talks with Vista Equity Partners, a private equity firm with a minority stake in Reynolds and Reynolds....
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KPMG acquires majority of corporate turnaround firm BBK

3:45 pm U.S. ET | May 6, 2014
Accounting and consulting giant KPMG LLP said today it acquired a majority of the assets of Detroit area advisory firm BBK Ltd., a longtime player in auto supplier turnaround projects....
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Visteon pays Cerberus to take control of interiors unit

7:44 am U.S. ET | May 2, 2014
Auto supplier Visteon said it signed an agreement to transfer its global automotive interiors business to an affiliate of private investment firm Cerberus Capital Management LP....
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