Press Releases

KPS Capital Partners, LP, Through an Affiliate, Agrees to Acquire ThyssenKrupp Waupaca, Inc.

May 15, 2012

New York, NY (May 15, 2012) -- KPS Capital Partners, LP ("KPS") announced today that, through a newly formed company, W Foundry International, Inc. and its affiliates, it has entered into definitive agreements to acquire ThyssenKrupp Waupaca, Inc. (“Waupaca” or the “Company”) from ThyssenKrupp Budd Company. Financial terms of the transaction were not disclosed.

Waupaca is the largest iron foundry company in the world and 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 Wisconsin, Indiana, and Tennessee. The Company employs approximately 3,500 people.

David Shapiro, a KPS Managing Partner, said, “We are very excited to create an independent Waupaca Foundry. Waupaca is the largest company in its industry worldwide with the leading North American market share in each of its diverse end markets and strong customer relationships that have been developed over decades of partnership. The Company possesses world-class assets, unrivaled scale and scope, industry leading quality and service, and a commitment to investing in state-of-the-art technology and process development. We look forward to working with Chief Executive Officer Gary Gigante, his management team and all of Waupaca’s employees to build on this great platform by strategically expanding into regions where Waupaca’s key customers are growing. The combination of the Company’s unique strengths and the financial resources of KPS will provide the foundation for Waupaca’s future growth, both organically and through acquisitions in North America and around the world.”

Gary Gigante, President and Chief Executive Officer of Waupaca, said “We are thrilled to become an independent company under KPS’ ownership. KPS’ commitment to manufacturing excellence and enthusiastic support of our extraordinary growth trajectory and globalization initiatives positions our Company for continued success. We look forward to continuing to provide our customers with industry leading quality, customer service and innovation.”

The closing of the transaction is expected during the second quarter of 2012 and is subject to customary closing conditions. ThyssenKrupp Waupaca, Inc. will be renamed Waupaca Foundry, Inc. upon closing of the transaction.

Perella Weinberg Partners, L.P. acted as financial advisor and Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel to KPS and W Foundry International, Inc. and its affiliates. Financing for the transaction will be 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.

About ThyssenKrupp Waupaca, Inc.

ThyssenKrupp Waupaca, Inc., the largest independent iron foundry in the world, produces gray and ductile iron castings using state-of-the-art technology. Markets served include automotive, truck, agriculture, construction, hydraulics and commercial vehicles. With headquarters and three plants in Waupaca, Wisconsin and one in Marinette, Wisconsin, as well as plants in Tell City, Indiana, and Etowah, Tennessee, Waupaca employs approximately 3,500.

About KPS Capital Partners

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.4 billion of assets under management (as of September 30, 2024). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies currently generate aggregate annual revenues of approximately $23.7 billion, operate 251 manufacturing facilities in 30 countries, and have approximately 65,000 employees, directly and through joint ventures worldwide (as of September 30, 2024, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

← Back to Press Releases

footer-logo

One Vanderbilt Avenue, 52nd Floor
New York, NY 10017
T: 212.338.5100 | F: 646.307.7100

The information set forth in the materials on this site is as of September 30, 2024 (portfolio company data is as of September 30, 2024, pro forma for recent acquisitions) and does not purport to be a complete summary of KPS or its investments. No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in such materials. No reliance may be placed for any purpose on the information and opinions contained in such materials or their accuracy or completeness and nothing in such materials may be relied upon in making any investment decision. Certain information on or linked to from this site is furnished by or is derived from materials furnished by outside sources. KPS does not assume responsibility for independent verification of such information and has relied on such information being complete and accurate in all material respects. Any information presented by outside sources represents the understandings and opinions of such outside sources, which may differ from those of KPS. Any statements and quotes from third-parties are not selected on the basis of any performance-based data. Any performance information included in any document on or linked to from this site is presented for illustrative purposes only and is not indicative of the future returns of any of the funds managed by KPS and there can be no assurance that such funds will achieve comparable results, be able to avoid losses or be able to implement their investment strategies.

For information on our data processing practices, please read our privacy policy here.

To read our Diversity, Equity and Inclusion Statement, please click here.

For more information on the “Explanatory Documents for KPS Investors V, Ltd under Article 63-4(3) of Financial Instruments and Exchange Act of Japan” please click here.

For more information on the “Explanatory Documents for KPS Investors VI, Ltd under Article 63-4(3) of Financial Instruments and Exchange Act of Japan” please click here (Form 21-3) and here (Form 20-2).

For disclosures pursuant to the EU Sustainable Finance Disclosure Regulation (SFDR), please click here.