TowerBrook Announces Automotive Advisory Appointments

October 24, 2008 - TowerBrook Capital Partners L.P. (“TowerBrook”), a London and New York-based private equity firm, today announced the appointment of automotive sector experts, Gerd Siekmann and Olivier Roux, as advisors to the firm.

Both Gerd and Olivier are experienced automotive products executives, and will act as consultants to TowerBrook in exploring potential investment opportunities in the automotive sector.

Over the course of their extensive careers in the sector, Gerd and Olivier have served in a variety of management and Board roles at various automotive companies. They have extensive experience in managing complex situations.

Most recently they have managed Rhiag, an automotive components’ distributor, from purchase to exit achieving a good realisation for all stakeholders. In addition, they accomplished a complex and multi-country restructuring at Metzeler, an automotive components’ manufacturer. Both companies were owned by private equity investors.

Winston Ginsberg, Managing Director of TowerBrook, commented, “Gerd and Olivier possess a unique background with demonstrated success as senior executives in several complex situations within the automotive sector. They also have a strong financial background and an outstanding track record as senior operators, and have shown an ability to drive growth even in difficult times. We are confident that their industry experience will prove invaluable to TowerBrook as we explore opportunities within the automotive products and distribution areas.”

Gerd Siekmann and Olivier Roux added, “TowerBrook is well-known for its ability to find strong businesses, partner with management and provide the necessary capital and resources to ensure its portfolio companies are successful over the long term. We look forward to working with TowerBrook and pursuing investment opportunities in the automotive sector in both Europe and the U.S.”

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