Private equity firm invests in Titan International

According to filings submitted to the US Securities and Exchange Commission, private equity firm MHR Fund Management has acquired nearly five per cent of Titan International’s shares and has options to boost its holdings to 10.9 per cent. On 9 January, MHR purchased 2.6 million shares in the tyre maker for approximately US$39.5 million. In addition, the company paid almost $28.2 million for options that give it the right to buy 3.24 million more shares for $26.3 million.

MHR has more than $5 billion in assets and actively buys and works with companies that are seen as undervalued. The private equity firm’s website states that the company “takes a highly differentiated, control-focused, private equity approach to investing in distressed and undervalued middle-market companies.” Investor groups such as MH, buy enough shares to have a say in how companies operate, according to stock analysts.      Tire Review