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 not disclosed.
Perella Weinberg 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.
About Waupaca Foundry, Inc.
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
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.8 billion of assets under management (as of June 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 generate aggregate annual revenues of approximately $21.6 billion, operate 245 manufacturing facilities in 26 countries, and have approximately 64,000 employees, directly and through joint ventures worldwide (as of June 30, 2024, pro forma for the recent acquisitions of Sport Group and Innomotics which closed on July 8, 2024 and October 1, 2024, respectively). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
