New York, NY (November 26, 2012) – KPS Capital Partners, LP (“KPS”) today announced that its portfolio company Chassis Brakes International Group (“CBI” or the “Group”) has acquired substantially all of the assets of Australian-based Autocast and Forge Pty Ltd (“ACF”), through an indirect, wholly-owned subsidiary. ACF’s assets were acquired free and clear of substantially all liens, claims and encumbrances through ACF’s voluntary administration process. Financial terms of the transaction were not disclosed.
ACF is Australia’s largest independent cast iron foundry serving the automotive industry, primarily engineering and manufacturing specialized castings. ACF’s customers include a majority of Australian automotive manufacturers. ACF employs approximately 100 employees at its single facility in Seven Hills, New South Wales.
KPS purchased CBI from The Bosch Group in May 2012 with a strategic plan to grow the business as an independent enterprise. With this acquisition, CBI has expanded and strengthened its manufacturing capabilities in Australia through vertical integration and has solidified its position as the largest manufacturer of automotive foundation brakes and foundation brake components in Australia.
About Chassis Brakes International Group
CBI is one of the world’s three largest manufacturers of automotive foundation brakes and foundation brake components. CBI’s primary products, which include brake calipers, disk brakes, drum brakes and parking brakes, are sold directly to original equipment manufacturers and through various aftermarket channels. The Group employs approximately 5,900 associates at 21 manufacturing facilities and engineering centers in Europe, Asia, South America and Australia.
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 $21.8 billion of assets under management (as of June 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 generate aggregate annual revenues of approximately $21.6 billion, operate 245 manufacturing facilities in 26 countries, and have approximately 64,000 employees, directly and through joint ventures worldwide (as of June 30, 2024, pro forma for the recent acquisitions of Sport Group and Innomotics which closed on July 8, 2024 and October 1, 2024, respectively). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
