 Carl Icahn |
Clermont Partners is covering the investment community in Tenneco's $5.4B cash/stock deal to acquire auto parts maker Federal Mogul from corporate activist Carl Icahn's Icahn Enterprises.
With the anticipated second-half closing of the deal, Tenneco will create two global independent companies to reflect the aftermarket & ride performance and powertrain technologies businesses.
CEO Brian Kesseler said FM brings strong brands, products and capabilities that are complementary to Tenneco's portfolio.
"Unleashing two new product-focused companies with even stronger portfolios will allow them to move faster in executing on their specific growth portfolios," he said in a statement.
Based in Lake Forest (IL), Tenneco has 32,000 employees and $9.3B in annual revenues.
FM, which has 55,000 workers and $7.8B in revenues, is headquartered in Southfield (MI).
Chicago-based Clermont founder Vivian Sivrais represents Tenneco.
She was deputy lead of the capital markets group at FTI Consulting's strategic communication arm before launching her IR, strategic communications firm.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
