Cerberus Capital buys thermoplastic auto components maker ABC Group

In conjunction with the transition to new ownership, Helga Schmidt will step down as chairman and chief executive officer of ABC Group and key members of the executive team will assume new roles. Mary Anne Bueschkens, current president and general counsel, will become chief executive officer.

Bueschkens commented, “This transaction will provide ABC Group with greater access to capital to support further investments in our people, products and operations, ensuring a continued legacy of delivering innovation, quality and exceptional service to our global automotive customer base. We look forward to our next phase of growth alongside Cerberus as we enhance and expand our integrated product solutions and further broaden our extensive thermoplastics manufacturing expertise.”