Byline: Kelly Holman
New York private equity firm Palladium Equity Partners has completed its acquisition of Haden International Group in a deal valued at close to $65 million.
Palladium invested $40 million in equity from its $300 million Palladium Equity Partners II fund in the privately held Auburn Hills, Mich.-based manufacturer of paint systems for automobile manufacturers. The investment gives Palladium a 75% stake in Haden. Additional details were not released.
Comerica Bank, the company's Detroit-based lender, has agreed to provide the company with a new $25 million credit facility.
"This is a terrific opportunity for Palladium to …