KPS Capital Partners
| Company type | Private |
|---|---|
| Industry | Private Equity |
| Founded | 1991[1] |
| Headquarters | New York, New York |
Key people | Michael Psaros, David Shapiro |
| Products | Leveraged buyout |
| Total assets | $5.7 billion |
| Website | [1] |
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.[2] 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.[2]
The company has its headquarter in New York City. It was founded in 1991 by Eugene Keilin, Michael Psaros and David Shapiro, hence the name.[3]
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.[4] In 2009 Psaros estimated that he had saved about 20,000 jobs.[4] Unions also have appreciated that KPS uses little or no debt in its deals and have called in KPS to save companies.[4]
The following (incomplete) list includes major companies that are or had been controlled by KPS:[2]
- Chase Brass and Copper Company
- Franciscan Ceramics
- Heritage Home Group
- Motor Coach Industries
- North American Breweries
- Waterford Wedgwood
- Chassis Brakes International
References
- ^ Bloomberg Business Company Snapshot
- ^ a b c 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.
- ^ a b c Martin Arnold (March 26, 2009). "The friendly barbarian". Financial Times. Retrieved February 13, 2015.
External links
  | This article about a private equity or venture capital firm based in the United States is a stub. You can help Wikipedia by expanding it. |