Lexington Precision exits Ch. 11; Aurora Resurgence becomes new majority owner.(News)

Byline: Mike McNulty

An apparently leaner Lexington Precision Corp. has emerged from bankruptcy protection with less debt and a new majority owner, Aurora Resurgence.

An affiliate of Aurora Capital Group, Aurora Resurgence said it successfully reorganized the manufacturer of rubber components for the automotive, medical and industrial markets.

It recently purchased public debt of Lexington and converted those securities into equity to help the firm exit bankruptcy court protection July 30.

Los Angeles-based Aurora then made a direct cash investment in Lexington to fund the company's reorganization. On Aug. 11 it said it now owns a majority …