Brookfield Business Partners LP and its institutional partners said on Monday they would acquire U.S. car parts maker DexKo Global Inc from private equity firm KPS Capital Partners LP for $3.4bn.
Based in Novi, Michigan, DexKo produces engineered trailer running gear and chassis assemblies and has more than 6,000 employees. KPS Capital Partners acquired DexKo Global from Sterling Group LP in 2017.
Brookfield Business Partners, which is the listed business services and industrials arm of Canada’s Brookfield Asset Management, said the deal would be funded with about $1.1bn of equity.
Free Webinar: Personalizing One to Many: Investor Relations at Scale
- What are the best practices for investor relationships when the number of fund and LP’s increase?
- How has technology reshaped investor relationship management?
- What are the most important factors for LP’s when deciding where to place their funds now and in the future?
Brookfield plans to invest about $400m towards the deal, expected to close by the year end, with the rest of the funding provided by its institutional partners.
The company said the financing will be led by a syndicate of banks which includes Credit Suisse, Deutsche Bank, BMO Capital Markets, Bank of America, Goldman Sachs and RBC Capital Markets.
Source: Reuters
Can’t stop reading? Read more
Clearlake Capital strengthens executive bench as it scales global investment platform
Clearlake Capital strengthens executive bench as it scales global investment platform Clearlake...
Croatia’s Prosperus Growth acquires Neos to anchor IT platform strategy
Croatia’s Prosperus Growth acquires Neos to anchor IT platform strategy Croatian private equity...
Alter Capital takes control of Wifit Gyms to accelerate Iberian expansion
Alter Capital takes control of Wifit Gyms to accelerate Iberian expansion Alter Capital Desarrollo...