KPS Capital Partners To Acquire Howden From Colfax Corporation - Seite 2

Ian Brander, Chief Executive Officer of Howden, said, "We are excited about our future as an independent company under KPS' ownership. KPS is an ideal partner, given its demonstrated track record of recognizing and growing world-class industrial companies. KPS' commitment to continuous improvement, its global network, access to capital and significant resources will enable us to continue to grow our business and provide our customers with market-leading products and solutions."   

"We are very pleased that our Air and Gas Handling associates will be working with a strong partner whose vision is to invest and grow the business," said Matt Trerotola, President and Chief Executive Officer of Colfax Corporation. "I want to thank the team for their success in reshaping the business toward more profitable growth opportunities."

Completion of the transaction is expected in the second half of 2019 and is subject to customary closing conditions and approvals.

J.P. Morgan Securities LLC and RBC Capital Markets acted as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS and its affiliates.

About Howden
Howden is a leading global provider of mission critical air and gas handling products and services to the industrial, power, oil & gas, and mining industries. Based in Glasgow, Scotland, Howden has a 160 year heritage as a world-class application engineering and manufacturing company with a presence in 32 countries. Howden manufactures highly engineered fans, compressors, heat exchangers, steam turbines, and other air and gas handling equipment, and provides service and support to customers around the world in highly diversified end-markets and geographies. The Company has over 5,300 employees, including over 650 industry-leading engineers, and 22 manufacturing facilities in 12 countries. For more information on Howden, visit www.howden.com.

About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.0 billion of assets under management (as of March 31, 2019).  For over two 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 currently have aggregate annual revenues of approximately $5.8 billion, operate 100 manufacturing facilities in 27 countries, and have over 22,000 employees, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.