Statement Says Hercules Getting Equity Group Help

(Akron/Tire Review) A press statement issued today by FdG Associates, a private equity company based in New York City, indicated that it is assisting Hercules Tire & Rubber Co. to “recapitalise its business in partnership with management.”

According to the statement, “This transaction will allow Hercules to strengthen its financial base, further develop its private label programme, solidify its position in the distribution of private label and branded tyres, and capitalise on growth opportunities. Hercules’ relationships with its customers and suppliers will remain unchanged.”

No other information was made available, and, according to the statement, “further details will be made available shortly when the transaction closes.”