Reuters - American Securities in Lead for Auto Parts Deal
American Securities is in the lead to buy auto parts suppliers from Carlyle Group LP and KPS Capital Partners LP, in deals that could collectively top $1.5 billion, Reuters reported. Private equity firm American Securities is in advanced stages of negotiating the acquisition of U.S. auto parts supplier Metaldyne from Carlyle for over $800 million, the people said on condition of anonymity because discussions are confidential. New York-based American Securities is also in advanced discussions to buy HHI Group Holdings, which makes forged parts, wheel bearings and powdered metal engine and transmission components for the automotive and industrial sectors, from KPS Capital Partners for more than $700 million, the people added.
1 October 2012•3 mins read
