Recently, KPS Capital Partners announced that Hitachi Group will acquire its Waupaca Foundry with a purchase price of US$1.3 billion.
Hitachi is one of the world's largest integrated multinational conglomerates. Founded in 1910, it currently has a total of 320,000 employees worldwide, including around 5,000 R&D personnel.
Wapaca Casting Co., Ltd. is one of the largest suppliers of automotive castings for automotive applications in North America. Its business includes castings for passenger cars, commercial vehicles, agricultural vehicles and construction vehicles.
KPS acquired Waupaca Foundry Co., Ltd. in June 2012. Since then, Waupaca has increased its production capacity and expanded its 200 employees. It currently has a total of six factories and 3,900 employees.
KPS executive partner David Shapiro said: "The company (KPS) is very optimistic about the Hitachi Group's acquisition of Wupaca, which will bring great benefits to Wupaca and its investors, employees and customers."
"The Voipaka will leverage the global reach of Hitachi Group's global reach, extensive casting experience and strong financial resources to further expand the company's global operations," said Warpakar's CEO Gary Gigante.
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