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KPS
CAPITAL PARTNERS COMPLETES ACQUISITION OF
BOSCH GROUP’S FOUNDATION BRAKES BUSINESS
ANNOUNCES
FORMATION OF CHASSIS BRAKES INTERNATIONAL GROUP
New York, NY (June 1, 2012)
-- KPS Capital Partners, LP ("KPS") announced today that it has
completed the acquisition of Robert Bosch’s global automotive foundation
brakes business, through a newly-formed affiliate, Chassis Brakes
International Group. Financial terms of the transaction were not
disclosed.
Lazard Frères & Co. LLC acted as
financial advisor, and Hengeler Mueller as
legal counsel, to KPS and its affiliates.
About Chassis Brakes
International Group
Chassis
Brakes International Group, headquartered in Drancy, France, is one of
the world's three largest manufacturers of automotive foundation brakes
and foundation brake components. The Group’s primary products, which
include brake calipers, disk brakes, drum brakes, and parking brakes, are
sold directly to original equipment manufacturers and through various
aftermarket channels. The Group employs 6,000 associates at
21 manufacturing facilities and engineering centers in
Europe, Asia, and South America.
About KPS Capital Partners, LP
KPS Capital
Partners, LP is the manager of the KPS Special Situations Funds, a family
of private equity funds with over $2.8 billion of assets under management
focused on constructive investing in corporate carve-outs, restructurings
and other special situations. KPS has executed highly complex corporate
carve-out transactions on a global basis, and has acquired businesses
from numerous Global Fortune 500 companies. The KPS investment strategy
targets manufacturing and industrial companies with strong market
positions that are going through a period of transition or experiencing
operating or financial difficulties. For over two decades, the partners
of KPS have worked with the management teams and associates of its
portfolio companies to improve operating and financial performance by
focusing on cost reduction, efficiency, operational excellence and
strategic growth initiatives. KPS portfolio companies have aggregate
annual revenues of $6.1 billion, operate 89
manufacturing plants in 24 countries, and employ over 28,000 associates,
directly and through joint ventures worldwide. The KPS investment
strategy and portfolio companies are described in detail at the firm's
website: www.kpsfund.com
