TROY, Mich. (Jan. 15)—Heartland Industrial Partners L.P. has agreed to purchase 25 million new shares in Collins & Aikman as well as buy 50 percent, or 27 million shares, of the company from major shareholders Blackstone Capital Partners L.P. and Wasserstein Perella Partners L.P. Heartland will pay $5 per share under both agreements for a total investment of $260 million. The deals are expected to close by mid-February. Heartland struck a deal to acquire Simpson Industries Inc. in October after making a similar deal for MascoTech Inc. two months earlier. "Their strong senior management team, leading market share positions and global capabilities in acoustics and interior surface styling products all combine to make Collins & Aikman a perfect candidate for our industrial build-up investment strategy," said David Stockman, Heartland founder and senior managing director. "We believe that with Heartland´s support, Collins & Aikman will be better positioned than ever to capitalize on growth opportunities."