Mark IV going Brit

Mark IV Industries, America’s leading supplier of electronic toll equipment seems likely to be acquired by BC Partners, a London based private investment fund. The board of Mark IV based in Buffalo NY voted to accept an offer of about $2b for the company, only a part of whose business is electronic toll equipment – the division based in Mississauga Ont, near Toronto’s main airport. Mark IV’s main business is automotive components, especially belts, hoses, filters etc. BC Partners also has offices in Milan and Hamburg and recently bought a company making small engines. It invests money and manages its businesses on behalf of large European financial institutions.