KPS Capital Partners has acquired C&D Technologies, a maker of reserve power systems.
C&D manufactures, engineers, supplies and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power. The company’s products and services are used in the utility, telecommunications, uninterruptible power supply, cable, broadband and renewable energy markets. C&D is headquartered near Philadelphia in Blue Bell, PA and operates four manufacturing facilities located in the United States, Mexico and China. The company is led by its CEO Armand Lauzon and has approximately 1,400 employees (www.cdtechno.com).
“We are proud to acquire C&D, and look forward to working closely with Armand Lauzon and the company’s management team to aggressively grow the C&D platform both organically and through strategic acquisitions,” said David Shapiro, a Managing Partner of KPS. “C&D is a leading global provider of energy storage solutions and services, with a long history of innovation, quality and service to its customers. As a result of KPS’ acquisition, C&D is now well capitalized, with a strong balance sheet and access to KPS’ strategic, operational and financial resources.”
“We are excited to partner with KPS as C&D embarks on its next phase of growth and evolution,” said Mr. Lauzon. “C&D strives to provide our customers with unparalleled quality, technology and customer service. KPS shares the same focus and commitment as evidenced by its 26-year history of successfully investing in global manufacturing and industrial businesses. KPS’ focus on manufacturing excellence and commitment to investing in research and development, accompanied by significant capital resources, will accelerate C&D’s many growth initiatives.”
KPS Capital Partners is the manager of the KPS Special Situations Funds, a group of private equity funds with approximately $5.2 billion of assets under management that invests in restructurings, turnarounds and other special situations. KPS targets manufacturing and industrial companies that are going through a period of transition or experiencing operating or financial difficulties. The firm’s portfolio companies have aggregate annual revenues of approximately $6 billion, operate 152 manufacturing plants in 30 countries, and employ over 46,000 people worldwide. KPS Capital Partners is headquartered in New York (www.kpsfund.com).
© 2017 Private Equity Professional | August 23, 2017
