AKC Note: There is no indication in the report of the motive for the sale, but with private equity ownership this is always likely to happen. It may be that the owners believe that the success that Sage has had with the continuing growth of North American automobile production puts them in a good position to make an attractive return on their investment of 2 years ago. Sage Automotive was created as part of a management buyout supported by private equity when Milliken & Co decided to exit the automotive body cloth business. Sage has undergone significant global and domestic expansion over the recent years.
Alasdair Carmichael
Carmichael International
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