CAPITAL PARTNERS PORTFOLIO COMPANY,
GLOBAL BRASS AND COPPER HOLDINGS, INC, COMPLETES SUCCESSFUL IPO
ON THE NEW YORK STOCK EXCHANGE UNDER THE TICKER SYMBOL “BRSS”
(May 30, 2013) -- KPS Capital Partners, LP (“KPS”) announced today that
its portfolio company, Global Brass and Copper Holdings, Inc. (“GBC” or
the “Company”), completed its initial public offering (the “IPO”), in
which 8,050,000 shares of its common stock (including 1,050,000 shares
sold pursuant to the exercise of the underwriters’ option to purchase
additional shares) were sold by the Company’s sole stockholder at a price
of $11.00 per share. The shares
have been approved for listing on the New York Stock Exchange and began
trading under the ticker symbol “BRSS” on May 23, 2013. All of the shares of common stock sold
in the IPO were sold by Halkos Holdings, LLC (“Halkos”), an entity owned by affiliates of KPS and
certain members of GBC’s senior management. Following the IPO, Halkos
owns 61.9% of GBC’s common stock.
Goldman, Sachs & Co., Morgan
Stanley & Co. LLC, William Blair and KeyBanc
Capital Markets acted as underwriters for the offering, with Goldman,
Sachs & Co. and Morgan Stanley & Co. LLC acting as
representatives for the underwriters.
Paul, Weiss Rifkind,
Wharton & Garrison LLP served as legal counsel to GBC with respect to
A registration statement relating to
these securities has been filed and declared effective with the U.S.
Securities and Exchange Commission (“SEC”).
This press release does not constitute an
offer to sell or a solicitation of an offer to buy the securities
described above, nor shall there be any sale of such shares of common
stock in any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The offering of these securities was
made only by means of a prospectus, copies of which may be obtained from
the offices of either: Goldman,
Sachs & Co., Attention: Prospectus Department, 200 West Street, New
York, NY 10282, Telephone: 1-866-471-2526, Facsimile: 1-212-902-9316 or
by emailing email@example.com; or Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014, Telephone: 1-866-718-1649,
or by emailing firstname.lastname@example.org.
Global Brass and Copper Holdings, Inc.
in Schaumburg, Illinois, Global Brass and Copper Holdings, Inc. (“GBC”)
is a leading, value-added converter, fabricator, distributor and
processor of specialized copper and brass products in North America. It engages in metal melting and
casting, rolling, drawing, extruding and stamping to fabricate finished
and semi-finished alloy products from processed scrap, copper cathode and
other refined metals. GBC’s
products include a wide range of sheet, strip, foil, rod, tube and
fabricated metal component products that it sells under the Olin Brass,
Chase Brass and A.J. Oster brand names. GBC’s products are used in a variety of
applications across diversified end markets, including the building and
housing, munitions, automotive, transportation, coinage,
electronics/electrical components, industrial machinery and equipment and
general consumer end markets. It
accesses these end markets through direct mill sales, its captive
distribution network and third-party distributors. For more information, please visit www.gbcmetals.com.
About KPS Capital Partners, LP
is the manager of the KPS Special Situations Funds, a family of
investment funds with over $6.0 billion of assets under management. KPS seeks to realize significant
capital appreciation by making controlling equity investments in companies
across a diverse range of manufacturing industries. The KPS investment strategy is based
primarily upon partnering with top management teams and improving the
operations of businesses.
Thereafter, upon achieving stability and profitability, KPS
focuses on growing its businesses, both organically and through strategic
acquisitions. KPS portfolio
companies have aggregate annual revenues of approximately $6.8 billion, operate 85 manufacturing facilities in 25
countries, and employ approximately 29,000 associates, directly and
through joint ventures worldwide.
The KPS investment strategy and portfolio companies are described
in detail at www.kpsfund.com.