Investitori Associati, the Italian private equity firm, has acquired Util Capital Tool & Design, the Italian/Canadian automotive brakes maker, which takes it into private equity hands for a fourth time.

Investitori Associati paid between €100m ($110m) to €150m for Util Capital Tool & Design. It was the company's first private equity owner. Investitori Associati acquired Util in the 1990s, before selling it to Bridgepoint in 1997. Bridgepoint then sold it to Quad C, a US buy-out firm, which combined Util with Capital Tool & Design.