MIV Acquisition completes purchase of Mark IV

AMHERST, N.Y. (Sept. 14)—As of today, Mark IV Industries Inc. is officially a privately held company. MIV Acquisition Corp., an affiliate of European private equity firm BC Partners, paid $23 per share or $1.05 billion and assumed $950 million in debt, making the deal worth approximately $2 billion. MIV did not release details of management shifts, but Sal H. Alfiero, Mark IV founder, CEO and chairman said in June he would leave the company. Four unnamed members of the hose and belt maker´s top management team would roll their stock holdings into equity positions with the new company.