Semer/Daniel Yunger 212.521.4800
KPS CAPITAL PARTNERS COMPLETES
THYSSENKRUPP WAUPACA, INC.
NAME TO WAUPACA FOUNDRY, INC.
New York, NY
(July 2, 2012) -- KPS Capital Partners, LP ("KPS") announced
today that it has completed the acquisition of ThyssenKrupp Waupaca, Inc.
(the “Company”) from ThyssenKrupp Budd Company, through a newly formed,
wholly owned affiliate. Upon
closing, the Company was renamed Waupaca Foundry, Inc. Financial terms of the transaction were
Partners, L.P. acted as financial advisor and Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal
counsel to KPS and its affiliates.
Financing for the transaction was provided by a syndicate of banks
and institutional investors with GE Capital Markets, Inc., RBC Capital
Markets and Wells Fargo Capital Finance acting as Lead Arrangers.
Waupaca Foundry, Inc., the largest iron foundry company in the
world, produces gray and ductile iron castings using state-of-the-art
technology. Waupaca is North America’s
leading supplier of iron castings to the automotive, truck, agriculture,
construction, hydraulics and commercial vehicle markets. Headquartered in
Waupaca, Wisconsin, the Company operates six manufacturing facilities,
located in Waupaca, Wisconsin (3), Marinette, Wisconsin, Tell City, Indiana,
and Etowah, Tennessee. Waupaca employs
approximately 3,500 people.
About KPS Capital Partners, LP
Partners, LP is the manager of the KPS Special Situations Funds, a family
of private equity funds with $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 $7.8 billion,
operate 96 manufacturing plants in 24 countries and employ over 33,000
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