Autocast and Forge Pty Ltd (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. The company employs approximately 100 employees at its single facility in Seven Hills, NSW (www.autocast.net.au).
KPS purchased Chassis Brakes International Group (CBI) from The Bosch Group in May 2012 with a strategic plan to grow the business as an independent enterprise. With the acquisition of ACF, 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.
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. CBI is based in Drancy, France and employs approximately 5,900 people at 21 manufacturing facilities and engineering centers in Europe, Asia, South America and Australia (www.chassisbrakes.com).
KPS Capital Partners is the manager of the KPS Special Situations Funds, a group of private equity funds with over $2.6 billion of committed capital focused on investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS portfolio companies, as of September 30, 2012, have aggregate annual revenues of approximately $7.2 billion, operate 89 manufacturing plants in 25 countries, and employ over 30,000 associates, directly and through joint ventures worldwide. KPS Capital Partners is headquartered in New York (www.kpsfund.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-27-12