KPS Capital Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, KPS Capital Partners has acquired 9 companies.

KPS Capital Partners’ most common sectors for investment are automotive (21%) and manufacturing (19%). The Firm’s most common investment types include divestiture (42%) and buyout (lbo, mbo, mbi) (14%). In total, KPS Capital Partners has invested in 21 US states and 6 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Garrett Motion for $2.1B.

In the last 3 years, KPS Capital Partners has exited 6 companies. The Firm’s most common exit type is trade sale (52%). KPS Capital Partners’ largest (disclosed) exit occurred in 2014 when it sold Waupaca Foundry for $1.3B.

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M&A Summary

  • M&A Total Activity70
    • M&A Buy Activity43
    • M&A Sell Activity27
  • Total Sectors Invested 18
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 37
  • M&A Advisors 21

KPS Capital Partners

485 Lexington Avenue, 31st Floor,
New York, New York 10017
United States
(212) 338-5100
www.kpsfund.com
dgray@kpsfund.com

KPS Capital Partners is a private investment firm that targets special situations including turnarounds, restructurings, bankruptcies, and corporate divestitures. KPS' target investment size is $100 to $500 million in businesses with minimum revenues of $250 million. The Firm has specific interest in companies engaged in the manufacturing, transportation, and service industries. KPS will not consider investments in high technology, financial services, telecommunications, broadcast media, real estate and natural resources. The Firm's geographic coverage spans the US, Canada, and Europe. KPS Capital Partners was formed in 1991 and is based in New York City.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Beverages, Chemicals, Construction, Consumer Products, Consumer Services, Distribution, Electrical Equipment, Electronics, Engineering, Forest Products, Machinery, Manufacturing, Medical Products, Metals/Mining, Packaging, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Special Situations/Distressed, Acquisition Financing, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue 250 -
Target EBITDA - -
Investment Size 100 500
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.6/yr) # 30 4 1 2 6 - 43
vol $974M $425M $2.3B $2.7B $6.4B
Sell (1.2/yr) # 21 - 3 3 - - 27
vol $3.0B $615M $3.6B
  70

Most Recent M&A

Company Date Value Type
Libertas Copper LLC 2020-12-23 - Secondary Buyout
Leetsdale, Pennsylvania · www.husseycopper.com
Garrett Motion, Inc. 2020-09-20 2.1B USD Going Private
Rolle, Switzerland · www.garrettmotion.com
AM General LLC 2020-07-22 - Secondary Buyout
South Bend, Indiana · www.amgeneral.com
Briggs & Stratton Corp. 2020-07-20 550M USD Special Situations/Distressed
Wauwatosa, Wisconsin · www.basco.com
Baker Hughes Incorporated - Lufkin Rod Lift Solutions Business 2020-05-01 - Divestiture
Missouri City, Texas
IKG Industries 2020-01-10 85M USD Divestiture
Houston, Texas · www.ikg.com
Crenlo Cab Products LLC 2019-11-05 - Secondary Buyout
Rochester, Minnesota · www.crenlo.com
Chassis Brakes International B.V. 2019-06-19 - Add-on Acquisition
Amsterdam, France · www.chassisbrakes.com
Genesis Attachments LLC 2019-05-17 - Add-on Acquisition
Superior, Wisconsin · www.genesisattachments.com
Colfax Corp. - Air and Gas Handling Business 2019-05-16 1.8B USD Divestiture
Annapolis, Maryland
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
DexKo Global, Inc. 2017-05-30 Fenders N' More 2019-12-02 10
Novi, Michigan · www.dexko.com Santa Fe Springs, California · www.fendersnmore.com
DexKo Global, Inc. 2017-05-30 Safim S.p.A. 2019-09-20 9
Novi, Michigan · www.dexko.com Modena, Italy · www.safim.it
C&D Technologies, Inc. 2017-08-22 Trojan Battery Co. 2018-11-06 1
Blue Bell, Pennsylvania · www.cdtechno.com Santa Fe Springs, California · www.trojanbattery.com
International Equipment Solutions LLC 2011-09-07 International Equipment Solutions LLC - IES Attachments Business 2018-08-07 1
Lexington, Kentucky · www.iesholdings.com Lexington, Kentucky
International Equipment Solutions LLC 2011-09-07 Siac do Brasil, Ltda. 2012-06-04 2
Lexington, Kentucky · www.iesholdings.com Guaranésia, Brazil · www.siac.com.br

M&A by Sector

Sector Current # Value All-time # Value
Automotive 5 (28%) 2.1B (37%) 9 (21%) 2.1B (33%)
Manufacturing 6 (33%) 1.9B (33%) 8 (19%) 2.3B (36%)
Consumer Products 2 (11%) 915M (16%) 3 (7%) 915M (14%)
Machinery 1 (6%) 550M (10%) 3 (7%) 550M (9%)
Electrical Equipment - - 3 (7%) -
Forest Products - - 3 (7%) -
Metals/Mining 1 (6%) - 2 (5%) -
Test/Measurement Equipment - - 2 (5%) -
Construction 1 (6%) 290M (5%) 1 (2%) 290M (5%)
Apparel/Textiles - - 1 (2%) 180M (3%)
Medical Products - - 1 (2%) 94M (1%)
Electronics - - 1 (2%) 10M (< 1%)
Beverages - - 1 (2%) -
Business Services - - 1 (2%) -
Energy Services and Equipment 1 (6%) - 1 (2%) -
Engineering 1 (6%) - 1 (2%) -
Packaging - - 1 (2%) -
Transportation - - 1 (2%) -
Total 18 $5.7B 43 $6.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 16 (89%) 3.6B (63%) 37 (86%) 4.3B (67%)
  Illinois 2 (11%) 490M (9%) 4 (9%) 890M (14%)
  Texas 2 (11%) 85M (1%) 3 (7%) 85M (1%)
  Pennsylvania 2 (11%) - 3 (7%) -
  Michigan 2 (11%) - 3 (7%) -
  Wisconsin 1 (6%) 550M (10%) 3 (7%) 550M (9%)
  North Carolina - - 3 (7%) 274M (4%)
  New York 1 (6%) - 2 (5%) -
  Missouri 1 (6%) - 2 (5%) -
  Indiana 1 (6%) - 2 (5%) -
  Maryland 1 (6%) 1.8B (31%) 1 (2%) 1.8B (28%)
  California 1 (6%) 425M (7%) 1 (2%) 425M (7%)
  Iowa 1 (6%) 290M (5%) 1 (2%) 290M (5%)
  Kentucky 1 (6%) - 1 (2%) -
  Massachusetts - - 1 (2%) 10M (< 1%)
  Virginia - - 1 (2%) -
  Oregon - - 1 (2%) -
  Montana - - 1 (2%) -
  Kansas - - 1 (2%) -
  Florida - - 1 (2%) -
  Connecticut - - 1 (2%) -
  Arkansas - - 1 (2%) -
France 1 (6%) - 2 (5%) -
Switzerland 1 (6%) 2.1B (37%) 1 (2%) 2.1B (33%)
Canada - - 1 (2%) -
  Manitoba - - 1 (2%) -
Germany - - 1 (2%) -
Ireland - - 1 (2%) -
Domestic 16 (89%) 3.6B (63%) 37 (86%) 4.3B (67%)
Cross-border 2 (11%) 2.1B (37%) 6 (14%) 2.1B (33%)
Total 18 $5.7B 43 $6.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Divestiture 7 (39%) 3.1B (54%) 18 (42%) 3.7B (57%)
Secondary Buyout 4 (22%) - 6 (14%) 94M (1%)
Buyout (LBO, MBO, MBI) 1 (6%) - 6 (14%) -
Special Situations/Distressed 2 (11%) 550M (10%) 3 (7%) 550M (9%)
Recapitalization - - 3 (7%) -
Stake Purchase - - 3 (7%) -
Acquisition Financing 2 (11%) - 2 (5%) -
Going Private 1 (6%) 2.1B (37%) 1 (2%) 2.1B (33%)
Consolidation 1 (6%) - 1 (2%) -
Total 18 $5.7B 43 $6.4B

Exits by Deal Type

Type Total # Value
Trade Sale 9 (33%) 338M (9%)
Secondary Sale 9 (33%) 110M (3%)
Trade Sale - Public Company 7 (26%) 3.2B (88%)
IPO 1 (4%) -
Merger 1 (4%) -
Total 27 $3.6B

Top M&A Advisors

Financial Deals
UBS Investment Bank
 3
Deutsche Bank Corporate & Investment Banking
 3
Lincoln International
 2
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison LLP
 25
Kirkland & Ellis LLP
 3
Jenner & Block LLP
 2

Deal Values

buy # Total
> $1B 2 $3.9B
$100M to $1B 6 $2.3B
< $100M 3 $189M
TOTAL $6.4B
Largest Garrett Motion, Inc.
$2.1B (2020-09-20)
sell # Total
> $1B 1 $1.3B
$100M to $1B 6 $2.3B
TOTAL $3.6B
Largest Waupaca Foundry, Inc.
$1.3B (2014-08-19)

M&A Connections

Deals
Acquired from
Investor(s)
12%
5 (12%)
Strategic(s)
42%
18 (42%)
Exited to
Investor(s)
33%
9 (33%)
Strategic(s)
63%
17 (63%)

Investor Summary

Size

Mega

PE Assets

5.5B USD

Established

1991

Specialist/Generalist

Generalist

Leadership

Eugene Keilin

Co-Founder

David Shapiro

Co-Founder & Managing Partner

Michael Psaros

Co-Founder & Managing Partner

Daniel Gray

Managing Director of Business Development

Florian Almeling

Managing Director of Business Development

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