Cerberus Capital acquires auto parts manufacturer ABC Group
ABC Group Inc, a Canadian automotive systems and components manufacturer, has been acquired by U.S. private equity firm Cerberus Capital Management. No financial terms were disclosed. Founded in 1974, Toronto-based ABC designs, develops and manufactures a thermoplastic product portfolio from 36 locations in North America, South America, Europe and Asia. Mary Anne Bueschkens, the company's new CEO, said the partnership with Cerberus will provide greater access to capital with which to pursue growth. As part of its investment, Cerberus will introduce a new board of directors. It will include a mix of senior automotive executives and Cerberus representatives.
4 July 2016•4 mins read
