US private equity firm Paine & Partners has bought a German autoparts manufacturer, in its first European buyout since the company was reformed out of the operations of Fox Paine & Company following the departure of co-founder Saul Fox.
Paine paid Montagu Private Equity an estimated â¬550m ($800m) to â¬580m for Stabilus, a Koblenz-based manufacturer of gas springs and hydraulic components used in the automotive industry, according to sources with knowledge of the transaction.
