Listed on the New York Stock Exchange Under the Ticket Symbol "BRSS"
New York, NY (May 30, 2013) -- KPS Capital Partners, LP (“KPS”) announced today that its portfolio company, Global Brass and Copper Holdings, Inc. (“GBC” or the “Company”), completed its initial public offering (the “IPO”), in which 8,050,000 shares of its common stock (including 1,050,000 shares sold pursuant to the exercise of the underwriters’ option to purchase additional shares) were sold by the Company’s sole stockholder at a price of $11.00 per share. The shares have been approved for listing on the New York Stock Exchange and began trading under the ticker symbol “BRSS” on May 23, 2013. All of the shares of common stock sold in the IPO were sold by Halkos Holdings, LLC (“Halkos”), an entity owned by affiliates of KPS and certain members of GBC’s senior management. Following the IPO, Halkos owns 61.9% of GBC’s common stock.
Goldman, Sachs & Co., Morgan Stanley & Co. LLC, William Blair and KeyBanc Capital Markets acted as underwriters for the offering, with Goldman, Sachs & Co. and Morgan Stanley & Co. LLC acting as representatives for the underwriters.
Paul, Weiss Rifkind, Wharton & Garrison LLP served as legal counsel to GBC with respect to the offering.
A registration statement relating to these securities has been filed and declared effective with the U.S. Securities and Exchange Commission (“SEC”).
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities was made only by means of a prospectus, copies of which may be obtained from the offices of either: Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: 1-866-471-2526, Facsimile: 1-212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, Telephone: 1-866-718-1649, or by emailing prospectus@morganstanley.com.
About Global Brass and Copper Holdings, Inc.
Headquartered in Schaumburg, Illinois, Global Brass and Copper Holdings, Inc. (“GBC”) is a leading, value-added converter, fabricator, distributor and processor of specialized copper and brass products in North America. It engages in metal melting and casting, rolling, drawing, extruding and stamping to fabricate finished and semi-finished alloy products from processed scrap, copper cathode and other refined metals. GBC’s products include a wide range of sheet, strip, foil, rod, tube and fabricated metal component products that it sells under the Olin Brass, Chase Brass and A.J. Oster brand names. GBC’s products are used in a variety of applications across diversified end markets, including the building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer end markets. It accesses these end markets through direct mill sales, its captive distribution network and third-party distributors. For more information, please visit www.gbcmetals.com.
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 December 31, 2023). 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 $20.3 billion, operate 222 manufacturing facilities in 26 countries, and have approximately 48,000 employees, directly and through joint ventures worldwide (as of December 31, 2023). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
