Exclusive: Dominus Capital puts maker of brake fluids on the selling block

One sponsor said his firm looked at the Selmer, Tennessee maker of brake fluid, fuel stabilizer, gear oil and lawnmower engine oil but didn’t bid on it. Another said a first round of bids was due recently.

Spectrum Corp generates EBITDA of about $20 million and sales of more than $100 million, according to one source. New York-based Dominus Capital, which specializes in control-oriented investments in companies generating $10 million in EBITDA or more, purchased the firm in 2010.

Spectrum Corp is one of 14 portfolio companies listed on the Dominus Capital website.

A spokesperson for Lazard declined to comment. Dominus Capital did not immediately respond to a phone call or email from Buyouts. Officials at Spectrum Corp did not return a phone call.

Dominus Capital disclosed $160 million raised and a total offering amount of $375 million in an amended Form D filing for Dominus Capital Partners LP in 2011. Buyouts reported the fund to have reached $200 million by the end of that year, although it is unclear if that was the final tally.

The firm was co-founded by Gary Binning, managing partner, Robert Haswell, partner and Ashish Rughwani, partner. All three had worked at Quad-C Management Inc prior to their time at Dominus Capital, according to the firm’s website.