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KPS Capital Partners

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KPS Capital Partners
Company typePrivate
IndustryPrivate Equity
Founded1991[1]
HeadquartersNew York, New York
Key people
Michael Psaros, David Shapiro
ProductsLeveraged 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]

References

  1. ^ Bloomberg Business Company Snapshot
  2. ^ a b c KPS official web site
  3. ^ Len Boselovic (February 16, 2014). "Heard Off the Street: Psaros based his career on a bold experiment". Pittsburgh Post-Gazette. Retrieved February 12, 2015.
  4. ^ a b c Martin Arnold (March 26, 2009). "The friendly barbarian". Financial Times. Retrieved February 13, 2015.
  5. ^ http://www.golf.com/equipment/2017/05/10/taylormade-golf-sold-425-million-kps-capital-partners-lp



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