EnPro Industries agrees terms for sale of Stemco Air Springs business to Turnspire Capital Partners
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By Jim Gibbins - 1st September 2020
USA - EnPro Industries Inc of Charlotte, North Carolina has entered into a definitive agreement to sell its Stemco Air Springs business unit, comprising Goodyear-licensed air springs, as well as Super Cushion and Spring Ride-branded air springs, to an affiliate of private equity firm, New York, USA-based Turnspire Capital Partners.
The agreement provides for the sale of the Air Springs business for USD32m in cash and a long-term promissory note with a face value of USD7.5m.
