COMPANIES Focus DIY’s problems are the least of the worries for Cerberus Capital Management, the US private equity group which is battling to keep its investments afloat in Chrysler, the carmaker, and GMAC, the auto finance company.
The secretive Cerberus acquired Focus DIY from Duke Street and Apax Partners two years ago in a £225m deal, which involved it acquiring the home improvement chain’s debt at a big discount and buying its equity for a nominal £1.
