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History Present Day (2001-Present) 2006: Avon Rubber p.l.c. sells its automotive division (approximately 75% of the business by sales turnover) in a management led buyout to Avon Automotive Holdings, Inc, which is established and controlled by an independent private equity company, Red Diamond Capital Partners, LP, and a management team by Leland Richards. Avon Automotive continues to be a significant supplier to the world's engine markets.
2009: A refinancing and recapitalization is completed.
Crystal Capital of Boston, MA becomes
the majority equity holder by contributing new equity and acquiring the shares held by Red Diamond Capital and MC Capital Inc.
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