By Edward Evans
May 1 (Bloomberg) -- Chrysler LLC’s bankruptcy marks the biggest collapse of any company owned by a private-equity firm, according to research firm PitchBook Data Inc.
Chrysler, acquired by investors led by New York-based Cerberus Capital Management LP for $7.4 billion in August 2007, filed for bankruptcy yesterday. The carmaker, based in Auburn Hills, Michigan, listed total assets of $39 billion and liabilities of $55 billion, making its bankruptcy the fifth largest in U.S. history.
The following table shows the biggest bankruptcies in the U.S. by private-equity-backed companies, compiled by Seattle- based Pitchbook.
Company Deal Size Filing Investors Chrysler $7.4 billon 2009 Cerberus Charter Communications $4.5 billion 2009 Vulcan Masonite International $1.9 billion 2009 KKR & Co. Aleris International $1.7 billion 2009 TPG Hawaiian Telcom $1.65 billion 2008 Carlyle Mervyn’s $1.65 billion 2008 Cerberus CDX Gas $835 million 2008 TCW Buffets $665 million 2008 CI Capital Leiner Health Products $650 million 2008 Golden Gate Merisant $570 million 2009 Pegasus Capital Source: Pitchbook
To contact the reporter on this story: Edward Evans in London at at eevans3@bloomberg.net
Last Updated: May 1, 2009 16:29 EDT
HOME
