Cypress Group-backed Affinia to Sell Auto Filter Unit for $1.3B
April 14, 2015
Affinia Group, a portfolio company of The Cypress Group, is reportedly selling its auto filter unit for $1.3 billion. The unit is said to have generated $156 million in EBITDA last year. Acquired by Cypress and co-investor OMERS for more than $1 billion in 2004, Affinia is a designer, manufacturer and distributor of automotive aftermarket components for passenger cars, SUVs, light & heavy trucks and off-highway vehicles. Cypress has hired Baird to find a buyer for the unit, according to reports.