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Article: This Just In.(Uni Boring acquired by investment companies)(Jerome Duncan Inc. for sale and files for bankruptcy)(Denton, Larry appointed as chairman of Dura Automotive Systems Inc.)
- Article from:
- Crain's Detroit Business
- Article date:
- November 21, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Investment group plans to buy Uni Boring
An investment group led by two private-equity funds and a former Ford Motor Co. and Covisint executive agreed to buy auto supplier Uni Boring Inc. out of bankruptcy.
The company will be renamed Diversified Machine Inc.
UC Investors Inc. - which includes The Carlyle Group, The Relativity Fund/JME and Bruce Swift - have an agreement to buy Uni Boring for $21 million plus the assumption of several million dollars in liabilities.
Another private-equity fund, Insight Equity L.L.P., was the highest bidder at a September auction with a $27.3 million bid. But the fund walked away from the deal last ...