KPS CAPITAL PARTNERS TO SELL HUSSEY COPPER TO INTERNATIONAL WIRE GROUP
New York, NY (June 10, 2025) — KPS Capital Partners, LP (“KPS”) announced today that it has signed a definitive agreement to sell its portfolio company Hussey Copper (the “Company”) to International Wire Group (“IWG”), a leading manufacturer of copper and copper-alloy wire products in the United States. Financial terms of the transaction were not disclosed. Completion of the transaction is expected in the third quarter of 2025 and is subject to customary closing conditions and approvals.
Hussey Copper is a leading North American processor and fabricator of copper products. The Company offers a comprehensive portfolio of high-quality copper products used in electrical infrastructure, data center, power generation and industrial applications. Hussey Copper is headquartered in Leetsdale, Pennsylvania, and has three U.S. manufacturing facilities and approximately 570 employees.
KPS acquired Hussey Copper in December 2020. KPS and Hussey Copper’s management team successfully transformed the Company by investing significant capital to upgrade and modernize operations, establishing continuous improvement programs to drive cost savings, increasing manufacturing capacity, diversifying into new products through the strategic acquisition of Mueller Industries’ extruded copper bar assets, refocusing the commercial strategy and significantly expanding the Company’s presence in high-growth end-markets. As a result of these initiatives, Hussey Copper nearly tripled its profitability under KPS’ ownership.
Ryan Harrison, a Partner of KPS Mid-Cap Investments, said, “The success of our investment in Hussey Copper demonstrates KPS’ investment strategy of seeing value where others do not, buying right and making businesses better across economic cycles and industries over decades. We are proud of Hussey Copper’s extraordinary transformation under KPS’ ownership. Hussey Copper demonstrates our ability to partner with prominent management teams to build industry-leading manufacturing companies. We view the Company’s success as a direct result of KPS’ commitment to, and investment in, Hussey Copper’s operations, strategic growth initiatives and its people.”
Mr. Harrison added, “We congratulate and thank Dale Taylor, Hussey Copper’s Chief Executive Officer, along with the Company’s management team and the entire organization, for their strategic vision and tremendous dedication to the Company. Hussey Copper is well-positioned for continued growth and industry leadership under IWG’s ownership.”
Dale Taylor added, “Our partnership with KPS was phenomenal. KPS recognized the underlying potential of Hussey Copper and actively supported the entire team through a significant business transformation. Under KPS’ ownership, Hussey Copper became a far better company by investing significantly in our people and operations, focusing on manufacturing excellence and providing high product quality and support to our customer base. We thank our customers, suppliers and employees for their contributions to our success. The strength of the Company has been recognized by IWG, and Hussey Copper is expected to continue its positive trajectory as an integral part of IWG.”
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel and Lazard Frères & Co. LLC served as financial advisor to KPS and Hussey Copper.
About Hussey Copper
Hussey Copper is a North American processor and fabricator of copper products. The Company offers a comprehensive portfolio of high-quality copper products used in electrical infrastructure, data center, power generation and industrial applications. Hussey Copper is headquartered in Leetsdale, Pennsylvania, and has three U.S. manufacturing facilities and approximately 570 employees. More information can be found at www.husseycopper.com.
About International Wire Group
Headquartered in Camden, New York, IWG is the largest non-vertically integrated copper and copper-alloy wire products manufacturer in the United States and maintains operations in Europe, all supported by unparalleled global engineering capabilities. IWG is highly regarded for its capacity and broad product portfolio, servicing a wide range of applications in energy, green electrification, industrial, automotive, aerospace, data communications and other major markets. Further information is available at www.Internationalwire.com
Disclaimer
Past performance is not indicative of future results. There can be no assurance that KPS or any of its funds or investments will achieve their objectives or avoid significant losses.
Certain statements herein reflect the opinions of KPS as of the date hereof and are based on a variety of assumptions and estimates that are subject to various risks and change. There is no guarantee that such opinions will be realized.
Forward-Looking Statements
This press release contains “forward-looking statements”, including statements regarding the contemplated transaction. Forward-looking statements can generally be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “potential,” “seek,” “should,” “think,” “will,” “would” and similar expressions, or they may use future dates. Forward-looking statements in this document include, without limitation, statements regarding the Company’s expectations as to the completion, timing and anticipated impacts of the contemplated transaction. These forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include, among other things: the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement or could otherwise cause the transaction contemplated herein to fail to close; the inability of the Company, KPS or IWG to satisfy the conditions to closing; and other risks and uncertainties. The Company undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. All forward-looking statements in this document are qualified in their entirety by this cautionary statement.
Statements By Portfolio Company Executives
Certain statements about KPS made by portfolio company executives herein are intended to illustrate KPS’ business relationship with such persons, including with respect to KPS’ abilities as a business partner, rather than KPS’ capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with the communication of such statements, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in KPS-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.4 billion of assets under management (as of September 30, 2024). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment, and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better and generates investment returns by structurally improving the strategic position, competitiveness, and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies currently generate aggregate annual revenues of approximately $23.7 billion, operate 251 manufacturing facilities in 30 countries, and have approximately 65,000 employees, directly and through joint ventures worldwide (as of September 30, 2024, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
KPS Mid-Cap focuses on investments in the lower end of the middle market that require up to $200 million of initial equity capital. KPS Mid-Cap targets the same type of investment opportunities and utilizes the same investment strategy that KPS’ flagship funds have for nearly three decades. KPS Mid-Cap leverages and benefits from KPS’ global platform, reputation, track record, infrastructure, best practices, knowledge and experience. The KPS Mid-Cap investment team is managed by Partners and Co-Heads Pierre de Villeméjane and Ryan Harrison, who lead a team of experienced and talented professionals.
