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History
Avon Rubber p.l.c., established in the UK in 1885, sold its automotive division –known as Avon Automotive- to Avon Automotive Holdings Inc. in a management led buyout in August of 2006. In February 2009, Avon Automotive Holdings Inc. and its subsidiaries completed a refinancing and recapitalization effort that substantially reduced the company’s debt and improved its capital structure. As part of the recapitalization, Crystal Capital of Boston, Massachusetts, contributed new equity and became the new majority equity holder by acquiring the shares previously held by Red Diamond Capital and MC Capital Inc. |
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