Carlyle Group Set to Buy UIS for About $1 Billion

New York, April 25, 2003; Dow Jones reports that private-equity firm Carlyle Group, marking the latest in a string of acquisitions in the fragmented auto-parts sector, is near a deal to buy closely held UIS Inc. for about $1 billion, people familiar with the matter told The Wall Street Journal.

Details were being worked out, but a deal could be announced within a few days, these people said. A spokesman for Carlyle, Washington, declined to comment. UIS couldn't be reached for comment.

UIS, Jersey City, N.J., makes oil filters, transmission parts and other auto parts. The auto-parts market is viewed by observers as ripe for consolidation and has been attracting widespread interest from private-equity firms in recent months. Carlyle Management Group, the private-equity firm's turnaround unit, last month announced plans to buy Breed Technologies Inc., a maker of airbags, seat belts and steering wheels. CMG has formed a separate group specifically for automotive acquisitions.