Kensington Capital leads $85 mln recap of Kenona Industries

Canadian alternative assets investor Kensington Capital Partners has completed a US$85 million recapitalization of Kenona Industries LLC, a Grand Rapids, Michigan high-volume precision machining business. The deal was done by the Kensington Private Equity Fund in partnership with management and co-investors. Founded in 1988, Kenona serves the automotive industry. Its products were utilized in over 45 2017 automobile nameplates, and its components are in more than 6 million of the 17 million U.S. vehicles produced annually. Kensington Senior Vice President Martin Kent said his firm will work with management to continue Kenona's growth.

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