KPS Capital Partners
|Headquarters||New York, New York|
|Michael Psaros, David Shapiro|
|Products||Leveraged buyout, Venture capital, Growth capital|
|Total assets||$5.7 billion|
KPS Capital Partners is an American investment company that manages KPS Special Situation Funds that in turn controls private equity limited funds. As of the end of 2014 over $5.7 billion of assets were managed. The firm is not a hedge fund, instead it tries to make money by making controlling investments in companies that experience a period of transition or need to make changes. KPS indicates that has been able to acquire non-core or divested assets from large corporations and turn them around into profitable entities that could be sold. KPS controlled companies employ more than 47,000 people in 26 countries.
The Financial Times noted that while private equity firms have often a bad reputation for stripping assets and slashing jobs when buying distressed companies, KPS has established a reputation for constructive relationships with the workforce and their unions. In 2009 Psaros estimated that he had saved about 20,000 jobs. Unions also have appreciated that KPS uses little or no debt in its deals and have called in KPS to save companies.
The following (incomplete) list includes major companies that are or had been controlled by KPS:
- Chase Brass and Copper Company
- Franciscan Ceramics
- Heritage Home Group
- Motor Coach Industries
- North American Breweries
- Waterford Wedgwood
- Bloomberg Business Company Snapshot
- KPS official web site
- Len Boselovic (February 16, 2014). "Heard Off the Street: Psaros based his career on a bold experiment". Pittsburgh Post-Gazette. Retrieved February 12, 2015.
- Martin Arnold (March 26, 2009). "The friendly barbarian". Financial Times. Retrieved February 13, 2015.
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