KPS Capital Partners has bought IKG, a Houston, Texas-based high quality steel and aluminum bar grating maker, from Harsco Corporation for $85mn.

 

Upon completion of the transaction in early 2020, IKG will become a portfolio asset in the KPS Special Situations Mid-Cap Fund that has over $11.5bn of assets under management.

 

KPS does not intend to make changes in the management team or employee count at IKG, but intends to grow the company both organically and through strategic acquisitions.

 

Apart from steel and aluminum bar gratings, IKG makes fencing products, which are used in industrial flooring, as well as safety and security applications. IKG has five manufacturing facilities across the US and one in Mexico with a total of 350 employees. The manufacturer also has sales offices in Mexico, China, and India. 

 

KPS makes controlling equity investments in manufacturing and industrial companies across a diverse cross section of industries. Within metals, they include automotive parts, capital equipment, and general manufacturing.

 

The KPS Special Situations Funds’ portfolio companies have aggregate annual revenues of approximately $8.4 billion, operate 142 manufacturing facilities in 26 countries, and have approximately 28,000 employees, directly and through joint ventures.

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