Speira, a European manufacturer of advanced rolled aluminum products, is among the company’s active investments.
The firm says it maintains working relationships with the major manufacturing, industrial and service unions in North America and Europe, including the United Steelworkers. KPS, a global private equity firm founded in 1991, says it makes controlling equity investments in manufacturing and industrial companies across diverse industries and has approximately $13.1 billion of assets under management as of December 31, 2021. We are very excited about OBE’s future opportunities and we have found a great partner in KPS to capture them,” says Liz Haggerty, OBE CEO. We intend to expand our capabilities as a customer-oriented solutions provider in architectural hardware, glass and glazing markets. KPS’ experience with manufacturing businesses and the significant capital resources available will allow us to invest in our commercial and operational growth strategy. We will continue to build on our industry-leading reputation for quality, reliability and product innovation.
KPS has an exemplary track record of investing in and improving manufacturing businesses, and we are exceedingly confident that they are the right partner to help us execute on our strategic plan. “The entire OBE management team looks forward to partnering with KPS as the company begins its journey as an independent company. OBE, headquartered in Dallas, has over 6,700 employees and operates 84 manufacturing and distribution facilities in five countries. Speculations regarding the possible $3 billion sale were reported late last year, which caused CRH’s stocks to rise. KPS Capital Partners LP (KPS) announced that it has signed a definitive agreement to acquire Oldcastle BuildingEnvelope® (OBE) from CRH plc for approximately $3.45 billion in cash through a newly formed affiliate. Completion of the transaction is expected in mid-2022 and is subject to customary closing conditions and approvals, according to a press release.
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