Private Equity Groups

Casting and machining suppliers merged to create Chassix

4:57 pm U.S. ET | April 30, 2013
Platinum Equity, a California private equity firm controlled by Detroit Pistons owner Tom Gores, said it has merged two of its Michigan automotive suppliers. Diversified Machine and SMW Automotive, both under the Platinum Equity portfolio, are now Chassix.... Read More »

 

JIM HENRY

Private equity likes the F&I space

12:01 am U.S. ET | Jan. 30, 2013
Investor interest shows that F&I is an attractive business to be in. The acquisition of F&I administrator Safe-Guard Products International in December by yet another private-equity firm, this time an affiliate of Goldman Sachs, shows the ongoing trend of private-equity firms to invest in auto finance and related business.... Read More »

 

GM could face $918 million hit from bankruptcy-related lawsuit

5:43 pm U.S. ET | Jan. 3, 2013
A federal bankruptcy judge could soon rule on whether the 2009 government-led restructuring of General Motors improperly favored hedge funds, and an adverse ruling could cost the automaker nearly $1 billion.... Read More »

 

Carlyle sells Metaldyne for $820 million

2:01 am U.S. ET | Dec. 19, 2012
Private equity firm Carlyle Group LP today completed the sale of Metaldyne LLC for about $820 million to another buyout firm, its second divestment of an American auto parts supplier it picked up from bankruptcy in as many years.... Read More »

 

Aston Martin gets bids from private equity fund, Mahindra, reports say

5:47 pm U.S. ET | Nov. 23, 2012
Aston Martin owner Investment Dar has received competing bids from Investindustrial and Mahindra & Mahindra for half the sports-car maker, people familiar with the matter told Bloomberg and Reuters.... Read More »

 

Aston Martin gets bids from UK private equity fund, Mahindra, sources say

Nov. 23, 2012 23:47 CET
Aston Martin owner Investment Dar has received competing bids from Investindustrial and Mahindra & Mahindra for half of the sports car maker, sources said.... Read More »

 

Reynolds and Reynolds explores $5 billion sale to private equity, report says

5:18 pm U.S. ET | Oct. 29, 2012
Reynolds and Reynolds, a leading provider of business management software for auto dealers in North America and Europe, is exploring a sale to private equity that could fetch around $5 billion, sources familiar with the matter told Reuters.... Read More »

 

Sterling Group to buy Dexter Axle for $360 million

12:01 am U.S. ET | Oct. 9, 2012
An affiliate of Sterling Group of Houston has agreed to purchase Dexter Axle in a deal worth $360 million.... Read More »

 

Forged components supplier HHI acquired by private equity firm

11:16 am U.S. ET | Oct. 8, 2012
The New York City private equity firm American Securities LLC has acquired HHI Group Holdings LLC, which makes automotive forged components.... Read More »

 

Ex-Chrysler executives' age bias claims revived by U.S. appeals court

4:55 pm U.S. ET | Sept. 25, 2012
Hundreds of former Chrysler executives claiming they lost retirement benefits because of age bias can sue the company's former parent Daimler AG, a federal appeals court ruled Tuesday.... Read More »

 

HANS GREIMEL

Japan's Renesas rescue: White knights or protectionism?

9:42 am U.S. ET | Sept. 24, 2012
It was the auto parts company almost no one had heard of until it brought down the entire industry last year. Now, Renesas Electronics is back in the headlines, and again not necessarily for a good reason.... Read More »

 

DuPont sells half its automotive business

12:01 am U.S. ET | Sept. 3, 2012
DuPont is selling roughly half of its automotive business. The company is selling its auto paint business, DuPont Performance Coatings, to Carlyle Group, a private equity firm in Washington, for $4.9 billion in cash. It will keep its other automotive operations.... Read More »

 

DuPont to sell car paint unit to Carlyle for $4.9 billion

8:42 am U.S. ET | Aug. 30, 2012
Chemical giant DuPont is selling its slow-growing car paint business to private equity firm Carlyle Group LP for $4.9 billion in cash as it focuses on advanced materials and biotechnology.... Read More »

 

Carlyle emerges as front runner to acquire DuPont car paint unit

8:01 pm U.S. ET | Aug. 6, 2012
Private equity firm Carlyle Group has emerged as the front runner to buy DuPont's car paint business after rival bidder Apollo Global Management declined to increase its offer, according to three people familiar with the matter.... Read More »

 

MIKE JACKSON

Private equity was good for Obama -- why not Romney?

12:01 am U.S. ET | June 4, 2012
Private equity principles turned around General Motors and Chrysler, so why aren't they good enough for Mitt Romney and Bain Capital? The irony of this presidential campaign fight about private equity just blows my mind Mike Jackson is CEO of AutoNation in Fort Lauderale, Fla.... Read More »