KPS Capital Partners related stories
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KPS exits United Copper IndustriesKPS Capital Partners LP has sold United Copper Industries Inc to Southwire Company LLC. No financial terms were disclosed. UCI is a maker of building wire and cable.
- KPS-backed A&E acquires Vardhman Yarns and Threads Limited
American & Efird Global LP, which is backed by KPS Capital Partners, has acquired India-based Vardhman Yarns and Threads Limited, a maker of industrial and consumer sewing thread. No financial terms were disclosed.
Ontario Steel makes bid for U.S. Steel Canada: ReutersOntario Steel Investment Ltd, a group that includes shareholders of Essar Global, said that it had submitted an offer for the purchase of U.S. Steel Canada Inc, which has been in creditor protection since 2014, Reuters reported. The offer includes the assumption of $954 million in liabilities under U.S. Steel Canada's pension plan and a commitment to provide $25 million toward post-employment benefits for U.S. Steel Canada's past and present staff. Last month, Ontario Steel Investment launched a bid to acquire Essar Steel Algoma Inc.
KPS Capital Partners walks away from Essar Steel Algoma bid: ReutersEssar Steel Algoma Inc said U.S. private equity firm KPS Capital Partners had backed out of a consortium that made a bid for the Canadian steel maker, but that certain term lenders were still pursuing a bid, Reuters reported. A group that includes shareholders of Essar Global signed a letter of intent with a local unit of the United Steelworkers Union earlier this week to negotiate a deal to buy Algoma for about US$900 million.
- KPS Capital Partners walks away from bid for Essar Steel Algoma: Reuters
Essar Steel Algoma Inc said private equity firm KPS Capital Partners LP had backed out of a consortium that made a bid for the steel maker, but that certain term lenders were still pursuing a bid, Reuters reported.
Investor group proposes alternative to KPS-led buy of Essar Algoma: ReutersA group that includes shareholders of Essar Global said it signed a letter of intent with a local unit of the United Steelworkers Union to negotiate a deal to buy Canada's Essar Steel Algoma Inc for about US$900 million, Reuters reported. Essar Global said in a statement last month that it did not support a deal to sell Essar Steel Algoma's assets to a consortium formed by U.S. private equity firm KPS Capital Partners. Algoma, bought nearly a decade ago by Indian energy and resources conglomerate Essar Global, had put itself up for sale while operating under creditor protection.
Essar Steel Algoma agrees to sell assets to KPS Capital Partners: ReutersEssar Steel Algoma Inc said it had agreed to sell its assets to a consortium formed by New York-based private equity firm KPS Capital Partners and its lenders, Reuters reported. The Canadian steel company, which had been purchased nearly a decade ago by Indian energy and resources conglomerate Essar Group, had put itself up for sale while operating under creditor protection. The company manufactures steel products and sells them to the automotive, light manufacturing, construction, shipbuilding and energy industries.
- KPS's Electrical Components closes acquisition of Whitepath Fab Tech
KPS Capital Partners said May 25 that its portfolio company Electrical Components International, Inc. completed the acquisition of Whitepath Fab Tech, Inc., a supplier of components and assembly services to the heating, ventilation and air conditioning industry. The deal was announced on May 17, 2016. St. Louis-based Electrical Components provides assembly services for the home appliance industry and wire harnesses for a range of applications.
- KPS's Electrical Components to buy HVAC supplier Whitepath Fab Tech
Electrical Components International, Inc., a portfolio company of KPS Capital Partners, agreed to acquire Whitepath Fab Tech, Inc., which supplies components and assembly services to the heaving, ventilation and air conditioning industry. Financial terms were not disclosed. A syndicate of banks and institutional investors, led by BofA Merrill Lynch, will provide financing.
- Anchor Glass pays out second dividend, $148 mln, to stockholders, including KPS
KPS Capital Partners LP said May 11 that it portfolio company Anchor Glass Container Corp completed a second recapitalization that produced a $148 million cash distribution to its stockholders. The first recap, in July 2015, produced a $150 million cash distribution to Anchor Glass stockholders. Anchor Glass makes glass packaging products. Credit Suisse provided financing while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Anchor Glass with respect to the recapitalization.