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Cerberus Finalises Rydel Sale

Cerberus Capital Management today announced the completion of the previously disclosed sale of its portfolio company Reydel Automotive Group to a subsidiary of Samvardhana Motherson Automotive Systems Group B.V. for a total purchase price of $201 million. Cerberus acquired Reydel from Visteon Corporation in 2014 in a carve-out of Visteon's global automotive interior business involving 20 operating plants, related R&D, and sales facilities across 16 countries. "Reydel was a successful partnership that leveraged Cerberus's experience with global automotive businesses, highly complex corporate carve-outs, and operational turnarounds," said Dev Kapadia, Senior Managing Director of Cerberus and Co-Chair of the Cerberus Private Equity Investment Committee. "We were able to...