KPS Capital Partners announced that its portfolio company Anchor Glass Container has completed a successful recapitalization. Anchor Glass raised $465 million of financing through a new term loan. The proceeds of the recapitalization were used to refinance outstanding debt, to fund a $150 million cash distribution to stockholders and to support the company’s continued growth.

Following the recapitalization, Anchor Glass remains conservatively capitalized with the continued support of its controlling shareholder, KPS, a private equity firm with approximately $5.9 billion of assets under management.