Heartland in talks to acquire Collins & Aikman, newspaper says
TROY, Mich. -- Heartland Industrial Partners is negotiating to buy Collins & Aikman Corp., the largest maker of automobile carpet, for about $1.2 billion from the Blackstone Group LP and Wasserstein Perella & Co., the Daily Deal newspaper reported.
Blackstone and Wasserstein bought the predecessor company to Collins & Aikman, Wickes Cos., about 12 years ago for $2.7 billion. The two buyout firms held an initial public offering for Collins in July 1994 at $10.50 a share, selling 15 million shares.