Investment firm KKR and Co. LP plans to buy a controlling stake in off-highway tire maker Alliance Tire Group from the private equity firm Warburg Pincus LLC.
Terms of the deal were not disclosed.
KKR said Friday in a statement that the company is in an attractive industry and has strong underlying growth drivers. Alliance Tire Group makes tires for the agricultural, forestry and construction industries under the brand names Alliance, Galaxy and Primex.
It employs about 2,500 people worldwide and has factories in India and Israel. It also has research and development locations in those countries as well as the United States and South Africa.
Alliance said the KKR investment will help it expand into new markets and make strategic acquisitions.