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Article: HIG Seeks to Re-acquire Bankrupt Stant.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- August 3, 2009
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Byline: Ken MacFadyen
One man's garbage, it turns out, can occasionally be the same man's treasure. At least that's the trend that developing in the distressed private equity space, as HIG Capital is the latest firm to see a portfolio company succumb to bankruptcy only to try to buy back assets after a stay in Chapter 11.
HIG, which acquired former Tomkins Plc unit Stant Corp. last year, has lined up a DIP loan for the company and submitted a fully financed stalking horse bid after the company filed for Chapter 11.
The Indiana-based company is a supplier of automotive and industrial fuel, oil and radiator caps, and operates facilities in ...