Keystone auto parts to be sold to Bain Capital

NEW YORK, Sept 4, 2003; Reuters reported that Bain Capital, a leading buyout firm, said it agreed to buy auto parts supplier Keystone Automotive Operations Inc. from several private equity firms in a move to boost its manufacturing company holdings.

The terms of the deal were not disclosed, but people familiar with the deal put its value at about $440 million. The sellers include Advent International, General Electric Co.'s GE.N GE Commercial Finance, Littlejohn & Co. and others, the companies said.

Exeter, Pennsylvania-based Keystone is the largest marketer and distributor of auto parts and accessories to the specialty auto parts market, Keystone said. Boston-based Bain Capital has more than $17 billion in assets under management.