NEW YORK – KPS Capital Partners announced that its portfolio company Chassis Brakes International Group has completed its second successful recapitalization. The proceeds will be used to fund a cash distribution to stockholders, refinance Chassis’ capital structure, purchase Robert Bosch’s financial interests in the company, and provide resources for investments in technology and growth.
Since acquiring Chassis in 2012, KPS has transformed it into an independent, growing and profitable company. Chassis has constructed new manufacturing facilities in Poland, China, India and Mexico, launched new industry-leading products, expanded its customer base globally, and invested in new technology.
Michael Psaros, a KPS Managing Partner, said “Chassis Brakes International is an excellent example of KPS’ ability to see value where others do not, to buy right and make businesses better. Under KPS’ ownership, Chassis Brakes International has been transformed from a former business unit into an independent, profitable, growing and technology-focused company. This complex carve-out and ambitious turnaround has resulted in Chassis Brakes International’s extraordinary success and growth. Chassis Brakes International has commercialized new industry-leading products, increased its market share, and diversified its customer base and geographic exposure.
We thank Chassis Brakes International’s management team and employees around the world for achieving this remarkable milestone.”
Chassis CEO Thomas Wünsche said, “our company’s successful recapitalization validates the incredible transformation Chassis has experienced under KPS’ ownership, and provides the resources to drive our ambitious growth plans. Thanks to our customers’ confidence and our employees’ and suppliers’ commitment, the Company’s momentum and trajectory are extraordinary. In particular, Chassis’ brake caliper and braking system position the company to capitalize on two of the industry’s megatrends: the electrification of the automobile and ultimate success of autonomous driving.”
KPS Funds’ portfolio companies have aggregate annual revenues of approximately $4.3 billion, operate 114 manufacturing facilities in 28 countries, and employ approximately 41,000 associates, directly and through joint ventures worldwide.
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