Clearlake Capital buys Australia-based auto interiors firm
Clearlake Capital Group, the Los Angeles-headquartered PE firm, has made its first investment in Australia, buying Elders’ automotive business for A$69 million ($62 million), including debt. The divestment allows Elders to become a pure-play rural and farming services operation, while Futuris Automotive will have fresh capital to pursue growth opportunities overseas.
The transaction is still subject to Foreign Investment Review Board approval and is expected to close by the end of August, according to a statement. Futuris produces automotive interiors - including...
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