KPS to sell IES attachments for $690 mln
KPS Capital Partners LP said Aug. 7 that it agreed to sell the attachments division of International Equipment Solutions LLC to Stanley Black & Decker Inc for $690 million. The deal includes IES’ Paladin, Genesis and Pengo business units, along with all brands and operations within those units. KPS said it will retain ownership of cabs division of IES, consisting of IES’ Crenlo, Emcor and Siac do Brasil brands. IES Attachments makes attachment tools for off-highway applications. UPDATE: The sale of IES attachments is the fourth exit for KPS this year, a spokesman said. Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel and Deutsche Bank acted financial adviser to KPS and IES with respect to the transaction.
7 August 2018•4 mins read
