ACF’s assets were acquired free and clear of substantially all liens, claims and encumbrances through ACF’s voluntary administration process. Financial terms of the transaction were not disclosed.
ACF is Australia’s largest independent cast iron foundry serving the automotive industry, primarily engineering and manufacturing specialised castings. ACF’s customers include a majority of Australian automotive manufacturers. ACF employs approximately 100 employees at its single facility in Seven Hills, New South Wales.
KPS purchased CBI from The Bosch Group in May 2012 with a strategic plan to grow the business as an independent enterprise. With this acquisition, CBI has expanded and strengthened its manufacturing capabilities in Australia through vertical integration.
KPS Capital Partners, has $2.6bn of assets under management focused on constructive investing in corporate carve-outs, restructurings and other special situations.
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