UPDATE 1-Pamplona buys bankrupt auto supplier TMD Friction

Reuters – TMD Friction, a bankrupt German maker of brake pads for the auto industry, has been bought by private equity firm Pamplona Capital Management, TMD said on Friday.

Both sides declined to comment on the sale price. The acquisition will safeguard 3,800 jobs worldwide, TMD said.

"I’m delighted to be partnering with Pamplona who are highly supportive of TMD Friction and the long-term outlook for the group," TMD Friction Chief Executive Derek Whitworth said.


Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.