Waupaca Completes Second Recap, to Pay out $125 Mln to Shareholders

KPS Capital Partners, LP said today that its portfolio company, Waupaca Foundry, has completed a second recapitalization. Proceeds of the recap, a $125 million upsizing of the company's term loan, were used to fund a $125 million cash distribution to stockholders. GE Capital Markets acted as lead arranger for the loan. In February, Waupaca completed its first recap and paid out a $200 million cash distribution to shareholders. Waupaca, Wis.-based Waupaca Foundry is a producer of gray and ductile iron castings.

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