First Reserve and Kayne Anderson team up for a stake worth up to $100 million.
The bidder also dismissed Hertz's claims of antitrust concerns as a 'smoke screen' in a statement.
The firm will ultimately combine four portfolio companies to create a $1 billion giant in the space; and more deals could be forthcoming.
Laura Marcero will help the consulting firm expand its automotive and manufacturing services segment.
What's left of the DLJ-backed company is expected to go to Wayzata following a restructuring.
AlixPartners' Albert Koch, who helped oversee the automaker's revival, identifies the takeaways from the turnaround.
The last 12 months has have witnessed upheaval in the airlines space.
Just about everything, but even in a perfect world, Cerberus bit off more than it could chew.
The Fed intervention on behalf of the Big Three certainly helped the supply base, though continued uncertainty will crimp necessary consolidation.
Automakers consider which brands are disposable, plus other assets go on the block.