Bankrupt MSD Performance Takes $78M Offer From PE Buyer

Law360, Wilmington (November 20, 2013, 10:30 PM EST) -- Bankrupt auto parts maker MSD Performance Inc. announced Tuesday that it would sell itself as a going concern to Z Capital Partners LLC, having accepted the private equity firm's $78 million offer.

The Texas-based parts maker, which had been aiming to sell itself through a Section 363 auction, tapped Z Capital as the winning bidder after the firm was the only party to submit a qualified offer by Monday's bid deadline, according to a notice filed in Delaware bankruptcy court.

Given the absence of competing offers,...
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