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KPS Capital Partners Sells Genesis Attachments to NPK Construction Equipment
Monday 20 May 2019

20 May 2019 - US-based private equity firm KPS Capital Partners has sold US-based equipment maker Genesis Attachments, LLC to NPK Construction Equipment, Inc., the firm said.

KPS will continue to own Crenlo, Emcor and Siac do Brasil.

Crenlo Global will continue to be led by chief executive officer Steve Andrews and chief financial officer Steve Klyn.

KPS created International Equipment Solutions in 2011 to acquire Genesis, along with Paladin, Pengo, Crenlo and Emcor. KPS sold IES' Attachments division (Paladin and Pengo) to Stanley Black and Decker in March 2019.

Genesis is a producer of hydraulic mobile shears, specialty demolition attachment tools, grapples, concrete processors and associated aftermarket parts.

Headquartered in Superior, Wisconsin, Genesis operates one manufacturing facility and one assembly and distribution facility with approximately 130 associates worldwide.

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately USD 5bn of assets under management (as of March 31, 2019).

The KPS Funds' portfolio companies have aggregate annual revenues of approximately USD 5.8bn, operate 100 manufacturing facilities in 27 countries, and have over 22,000 employees, directly and through joint ventures worldwide.

Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel and Deutsche Bank served as exclusive financial advisor to KPS and Genesis with respect to the transaction.
Date Published: 20/05/2019
Target: Genesis Attachments
Country: USA
Sector: Construction/Real Estate
Type: Divestment
Status: Closed
Vendor: KPS Capital Partners
Buyer: NPK Construction Equipment
Terms of the deal were not disclosed