KKR and Doughty Hanson pump up ATU with eur140m

Kohlberg Kravis Roberts & Co (KKR) and Doughty Hanson & Co have injected EUR140m in cash, pending bank approval, into car parts and service station chain company Auto-Teile-Unger Holding Aktiengesellschaft (ATU). The mild winter put ATU under pressure as the company's turnover did not meet targets set out in credit agreements, as the business with winter tyres was slower than expected. According to German press reports, ATU earned only slightly more than EUR100m in 2007 after EUR160m in 2006. Debt facilities are reported to amount to as much as EUR800m.

KKR bought ATU from Doughty Hanson & Co in 2004 for EUR1.45bn (July/August 2004, page 21), with Doughty Hanson retaining a small stake in the company.

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