Dayco acquired by private equity firm Hidden Harbor
By Bradley Osborne - 12th September 2022
USA – In August, Dayco Products LLC, a manufacturer of automotive components based in Roseville, Michigan, signed a definitive agreement acquiescing to the company’s purchase by private equity firm Hidden Harbor Capital Partners of Boca Raton, Florida for an undisclosed sum.
Dayco, formerly known as ‘Mark IV Industries’, filed for bankruptcy protection in 2009, being one of many parts manufacturers to fall into financial difficulties following the 2008 credit crunch. A Wall Street Journal article published on 6 May 2015 reported that Oaktree Capital Management LP was one of Dayco’s owners, while an S&P Global report from 15 Nov 2018 listed both Oaktree and TPG Inc as owners.
