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KPS sold GFG, a subsidiary of Genesis Worldwide II, Inc., to Mitsubishi-Hitachi Metals Machinery, Inc., a joint ventures of Mitsubishi Heavy Industries, Inc. and Hitachi, Ltd. The complex cross-border transaction closed in November 2005. Terms of the transaction were not disclosed
Headquartered in Wisconsin, GFG is the world’s leading designer and manufacturer of roll coating equipment and lines and electrostatic oilers under the Peabody name. GFG was formerly a subsidiary of Genesis Worldwide II, Inc. (“Genesis II”), a company KPS jointly owns with another private equity firm.
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Mitsubishi-Hitachi Metals Machinery, Inc. was introduced to KPS and Genesis Worldwide II, Inc. by Mitsubishi International Corporation, a Limited Partner/Investor in KPS' Funds and a key strategic partner of KPS.
www.gfg.us
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