Press Releases

KPS Capital Partners Portfolio Company, Global Brass and Copper, Inc., Completes Second Successful Recapitalization

Jun 01, 2012

New York, NY (June 1, 2012) -- KPS Capital Partners, LP ("KPS") announced today that its portfolio company Global Brass and Copper, Inc. (“GBC”) completed a successful recapitalization. GBC raised $575 million of financing, including a $200 million committed asset-based revolving credit facility and $375 million 9.5% senior secured notes due June 2019, sold pursuant to Rule 144A/Regulation S. The proceeds of the recapitalization were used to refinance existing outstanding debt, to fund a $160 million cash distribution to stockholders and for general corporate purposes. The transaction provides additional financial flexibility to GBC to implement its growth strategy.

Following the recapitalization, KPS and GBC management continue to own 100% of GBC’s common stock.

Financing for the recapitalization was provided by a syndicate of banks and institutional investors. Goldman, Sachs & Co. and Morgan Stanley & Co. LLC acted as joint bookrunners on the $375 million senior secured notes offering. Wells Fargo Capital Finance, LLC, part of Wells Fargo & Company (“Wells Fargo”), and GE Capital Markets, Inc. acted as joint lead arrangers, and Wells Fargo and Bank of America Securities, LLC acted as joint bookrunners, on the $200 million committed asset-based revolving credit facility.

Paul, Weiss Rifkind, Wharton & Garrison LLP served as legal counsel to GBC with respect to the recapitalization.

About Global Brass and Copper, Inc.

Headquartered in Schaumburg, Illinois, Global Brass and Copper, Inc. ("GBC") is a leading value-added converter, fabricator, distributor and processor of specialized copper and brass products in North America. GBC products include a wide range of sheet, strip, foil, rod, tube and fabricated metal component products that are sold under the Olin Brass, Chase Brass and A.J. Oster brand names. GBC employs approximately 1,900 people, and operates 11 manufacturing facilities and distribution centers across the United States, Puerto Rico and Mexico, as well as 80% owned joint venture in China, 50/50 joint venture in Japan and sales offices in China and Singapore. For more information, please visit

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 $13.4 billion of assets under management (as of March 31, 2022).  For nearly 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 generate aggregate annual revenues of approximately $19.7 billion, operate 233 manufacturing facilities in 27 countries, and have approximately 52,000 employees, directly and through joint ventures worldwide (as of March 31, 2022, pro forma for recent acquisitions and exits). The KPS investment strategy and portfolio companies are described in detail at

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