japans-advantage-partners-inks-first-us-deal

Japan's Advantage Partners inks first US deal

Private equity firm Advantage Partners buys GST AutoLeather, a supplier of leather car upholstery to automobile manufacturers, in its first investment outside Asia.
Japan-focused private equity firm Advantage Partners will buy Michigan-headquartered GST AutoLeather for an undisclosed consideration.

Advantage will buy 100% of the equity of GST from its current owner SILLC Holdings. Neither party disclosed the consideration but media has speculated that Advantage will pay around $300 million.

In March 2000 US Industries sold a majority interest in a portfolio of 11 businesses, including GST, to a Citicorp Venture Capital portfolio company, which then created SILLC, a holding company to hold the shares in the acquired businesses. The consideration for the 11 businesses was $600 million, of which $50 million was paid in cash and the balance was assumed debt.

Advantage Partners currently manages...
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