CPPIB-backed KSS to merge with China's Joyson in $920 mln deal
Key Safety Systems Inc (KSS), a supplier of advanced engineered safety products, has agreed to be acquired by China's Ningbo Joyson Electronic Corp. The cash deal is valued at about US$920 million and is expected to close in the first half of 2016. It will create an automotive supplier business with pro forma combined worldwide sales of about US$3 billion, the companies said. Following the acquisition, KSS will continue to operate as an independent entity based in Sterling Heights, Michigan. KSS is backed by FountainVest Partners, Canada Pension Plan Investment Board (CPPIB) and Crestview Partners. CPPIB invested in the company alongside FountainVest in 2014.
2 February 2016•5 mins read
