Equity funds team up to buy Cooper-Standard Automotive

From Rubber & Plastics News

Findlay, Ohio-Cooper Tire & Rubber Co. has found a buyer, or rather two, for its Cooper-Standard Automotive business.

The buyers are Cypress Group, a New York-based private equity group that manages two private equity funds with more than $3500 million in commitments, and Goldman Sachs Capital Partners, a specialist in corporate equity and mezzanine investing with more than $5.25 billion in capital.

Cooper plans to sell the unit, which generated $1660 million in sales and $96 million in operating profits last year, for…

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