Paul, Weiss client KPS Capital Partners, LP announced that it has signed a definitive agreement, through an affiliate, to sell portfolio company Waupaca Foundry, Inc. to Hitachi Metals, Ltd. for $1.3 billion in cash. Completion of the transaction, which is expected to close during the fourth quarter, is subject to customary closing conditions.
Waupaca is the largest iron foundry company in the world and is North America’s leading supplier of iron casting to the automotive, commercial vehicle, agriculture, construction and industrial markets.
The Paul, Weiss team serving as legal counsel to KPS and Waupaca included corporate partners Angelo Bonvino and Monica Thurmond and counsel Ji Lu, Dorian Fogel, Lindsey Wiersma and Didier Malaquin; tax partner David Mayo; real estate partner Peter Fisch; employee benefits counsel Reuven Falik; environmental counsel William O’Brien; and intellectual property counsel Claudine Meredith-Goujon.
