February 24, 2016 —THE WALL STREET JOURNAL — Centerbridge Partners has agreed to purchase antifreeze and coolant company Prestone Products Corp. for $230 million from New Zealand billionaire Graeme Hart, Amy Or reports for this morning’s LBO Wire.

Prestone’s assets include the Prestone antifreeze brand, as well as Holts Lloyd International Ltd., a Manchester, England operation providing auto repair and maintenance products to address flat tires, leaking radiators and seized brakes, among other issues.

Mr. Hart’s New Zealand-based investment vehicle Rank Group Ltd. acquired Prestone in 2011 as part of a larger acquisition of the auto consumer products business of Honeywell International Inc.

Sawaya Segalas & Co., LLC acted as financial advisor to Prestone Products on this transaction.