MUMBAI: KPS Capital Partners has announced the acquisition of C & D Technologies, Inc. and its affiliates through a newly created subsidiary. The financial terms of the transaction were not disclosed. Paul, Weiss, Rifkind, Wharton and Garrison LLP acted as legal advisor to KPS and its affiliates.
Blue Bell, Pennsylvania-based C & D manufactures, designs, supplies and services fully integrated standby power systems to regulate and control power flow and provide standby power. It is a leader in solutions and services for the utility, telecommunications, uninterruptible power supply, cable, broadband and renewable energy markets.
C & D operates four manufacturing plants located in the United States, Mexico and China , with sales and distribution in Canada, Latin America, Europe, the Middle East and India. The Company has approximately 1,400 employees.
KPS managing partner David Shapiro said: "We are proud to acquire C & D and look forward to working closely with CEO Armand Lauzon and the Company's management team to aggressively develop the C & D platform both organically and through strategic acquisitions. Is a leading global provider of energy storage solutions and services, with a long history of innovation, quality and service to its customers. As a result of the acquisition of KPS, C & D is now well capitalized, with a solid and Access to strategic, operational and financial resources of KPS ".
C & D CEO Armand Lauzon said: "We are very excited about this partnership with KPS for the next stage of growth and evolution of C & D. C & D strives to offer its customers quality, technology and services of unparalleled quality. Focus and commitment, as evidenced by its 26 years of successful investments in global manufacturing and industry businesses. KPS's focus on manufacturing excellence and its commitment to investment in research and development, accompanied by significant capital resources, will accelerate the Numerous C & D growth initiatives."