KPS Capital Partners related stories
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Adidas sells ice hockey brand to Birch Hill for $110 mln: ReutersGerman sportswear group Adidas AG has agreed to sell its CCM ice hockey brand to Canadian private equity firm Birch Hill Equity Partners for US$110 million ($138 million) as it focuses more strongly on its core Adidas and Reebok brands, Reuters reported. Adidas has shaken up its business in the United States and shed non-core businesses to regain ground lost to Nike Inc, outpacing its rival's sales growth in key markets this year. Birch Hill will pay most of the purchase price for CCM in cash and the rest in the form of a secured note, Adidas said. Based in Montréal, CCM is a designer, manufacturer and marketer of ice hockey equipment and related apparel. It was acquired by Reebok in 2004.
KPS-backed Chassis Brakes International completes second reccapCar brakes maker Chassis Brakes International, a portfolio company of KPS Capital Partners, has closed its second recapitalization. No financial terms were disclosed. KKR Credit provided the financing for the transaction. Part of the proceeds of the recap will be used by KPS to buy Robert Bosch GmbH's stake in Chassis Brakes.
- KPS to buy DexKo Global
KPS Capital Partners LP has agreed to acquire Novi, Michigan-based DexKo Global Inc, a provider of running gear technology, chassis assemblies and related components. No financial terms were disclosed. The deal is expected to close in the middle of this year.
- KPS agrees to buy TaylorMade Golf for $425 mln from adidas AG
KPS Capital Partners has agreed to acquire TaylorMade Golf Co., which includes the TaylorMade, Adams and Ashworth brands. KPS will buy the company for total consideration of $425 million from adidas AG. Half of the purchase price will be paid in cash, with the balance in a combination of secured note and contingent considerations.
- Riverside sells minority stake to Parkwood
The lower mid-market firm sold over 9 percent to a long-time limited partner.
- KPS-backed ECI completes recap
Electrical Components International, a portfolio company of KPS Capital Partners, has closed its latest recapitalization. The proceeds of the transaction, financed by a $60 million loan to ECI, were used to fund a $57 million cash distribution to shareholders. A syndicate of banks and institutional investors led by BofA Merrill Lynch provided the financing while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to ECI on the recapitalization.
- KPS Capital to buy Winoa
KPS Capital Partners LP said March 21 that it agreed to buy WHA Holding SAS and its affiliates (“Winoa”) from a consortium of investors. Financial terms weren’t announced. Winoa, of Le Cheylas, France, makes steel abrasives across the transportation, equipment, energy and construction end-markets. GSO Capital Partners LP is providing financing. DC Advisory served as financial advisor to KPS and its affiliates. Gide Loyrette Nouel A.A.R.P.I and Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel to KPS and its affiliates.
- Dyal wraps up third fund with $5.3bn
The fund is already more than half deployed and includes minority investments in such firms as Vista Equity Partners and KPS Capital Partners.
- Monomoy promotes Mlotek to director, also hires two
Monomoy Capital Partners has promoted Lee Mlotek to director from vice president. Also, the firm has added Kelly Myers and Rick Key to its operating group. Prior to joining Monomoy in 2010, Mlotek worked at KPS Capital Partners. And, Myers worked most recently as a senior manager in the audit group at Grant Thornton LLP and as the director of internal audit for Temper Sealy International while Key previously worked at Toyota Motor Corp. and Pon Material Handling.
- PE-backed ECI to buy Fargo Assembly Company
Electrical Components International Inc, a portfolio company of KPS Capital Partners, has agreed to acquire Fargo Assembly Company. No financial terms were disclosed. The deal is expected to close in the first quarter of this year. Based in Fargo, North Dakota, Fargo is a provider of wire harnesses for the motorcycle, agriculture, construction and specialty transportation sectors.