GE Capital Agents $485MM Facility for ThyssenKrupp Acquisition
Tuesday, July 03, 2012
GE Capital, Corporate Finance announced it served as administrative agent of a $485 million senior secured credit facility to Waupaca Foundry Holdings, Inc. The financing was used to support the acquisition of ThyssenKrupp Waupaca, Inc. by KPS Capital Partners. GE Capital Markets structured the transaction and served as co-lead arranger and joint bookrunner.
Headquartered in Waupaca, WI, ThyssenKrupp Waupaca is one of the largest iron foundry companies in the world and produces gray and ductile iron castings for the transportation, agriculture, construction and commercial-vehicle markets. The company operates six manufacturing facilities, located in WI, IN, and TN.
KPS Capital Partners is the manager of the KPS Special Situations Funds, a family of private equity funds with more than $2.8 billion of assets under management.
"We have worked closely with GE Capital for the past 15 years," said David Shapiro, managing partner at KPS Capital Partners. "GE's deep experience in the automotive, general industrial and metals industries was vital in completing the financing that backed this acquisition."
"GE and KPS have a long history of supporting growth in American manufacturing," said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. "Our combined industry experience means smarter capital that helps build better middle-market businesses."
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