Tilton's Patriarch Snags Hussey Copper For $107M

Law360, New York (November 15, 2011, 7:07 PM EST) -- Patriarch Partners, the buyout firm of distressed debt mogul Lynn Tilton, scooped up Hussey Copper Inc. for $107.8 million Monday in a nine-hour, 34-round auction, according to an adviser to the sale, though objections to the bid started flowing in immediately.

Patriarch subsidiary Libertas Copper LLC outbid four others, including industry player Kataman Metals LLC and rival private equity firm KPS Capital Partners LP, to land Hussey, said J. Scott Victor, managing director of SSG Capital Advisors LLC.

The backup bid is $107.5 million from Global...
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