x

Nextgen

Psaros’ KPS Capital Partners to Acquire Aluminum Rolling Business

NEW YORK – KPS Capital Partners, recently announced that it has signed a definitive agreement to acquire the global aluminum rolling business ‘Rolling’ from Norsk Hydro ASA (NHY.OL) for approximately $1.67 billion. Completion of the transaction is expected mid-year 2021 and is subject to customary closing conditions and approvals.

Michael Psaros, Co-Founder and Co-Managing Partner of KPS, said, “the size and global scale of the Rolling business, the quality of its assets, coupled with the breadth of its products and technology capabilities, form the foundation of a tremendous investment platform. KPS Partner Kyle Mumford will lead a KPS team who will work closely with the Company’s management team to accelerate growth opportunities driven by substantial investment in the Company’s assets and operations. Our focus will be on innovation and new product development. We look forward to creating value by leveraging KPS’ very successful, multi-decade experience investing in the metals and automotive industries.”

The Company is one of the largest global manufacturers of aluminum rolled products, serving customers across a diversified set of end-markets including beverage can, automotive, foil packaging, and building and construction. The Company’s assets consist of seven manufacturing facilities and one R&D center across Germany and Norway, including Alunorf, the world’s largest aluminum rolling mill, and Grevenbroich, the world’s largest rolled aluminum finishing mill. The Company employs approximately 5,000 employees mainly in Germany and Norway.

Perella Weinberg Partners acted as advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS and its affiliates.  Goldman Sachs acted as advisor and Clifford Chance LLP served as legal counsel to Hydro.

About Rolling

Rolling serves some of the most well-known brands in the automotive, packaging, printing, engineering, building and construction industries.

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with over $12.3 billion of assets under management (as of December 31, 2020). For nearly three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies have aggregate annual revenues of approximately $10.6 billion, operate 159 manufacturing facilities in 22 countries, and have approximately 34,000 employees, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

RELATED

Welcome to TNH’s Takeover! In collaboration with The Hellenic Initiative (THI), The National Herald and THI have begun a partnership to introduce the NEXTGEN of Greek/Cypriot ‘movers and shakers’ to the rest of our Diaspora community around the world.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mission…to Alonnisos, a TNH Documentary

O oceanic you sing and sail White on your body and yellow on your chimeneas For you're tired of the filthy waters of the harbors You who loved the distant Sporades You who lifted the tallest flags You who sail clear through the most dangerous caves Hail to you who let yourself be charmed by the sirens Hail to you for never having been afraid of the Symplegades (Andreas Empeirikos)   What traveler has not been fascinated by the Greek islands, drawn by the Sirens’ song of a traveler’s dreams? TNH and our video show ‘Mission’ marked the change of the season by transporting viewers into the heart of summer.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.