Financial Times FT.com

Private equity group rescues TMD Friction

By Martin Arnold and John Reed in London

Published: April 3 2009 13:14 | Last updated: April 3 2009 19:44

TMD Friction, the struggling German car parts maker, was bought out of administration Friday by Pamplona Capital Management, a London-based private equity group financed by Russia’s Alfa bank.

The deal is another example of private equity groups swooping to buy all or parts of companies that fall into administration in the financial crisis, helping to preserve jobs and reduce debts, while injecting fresh capital.

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