Industry expertise may be less important to portfolio company management than the right kind of cultural fit, personnel consultants told sister magazine Buyouts.

Packaging Dynamics Corp. announced earlier this week that it had agreed to sell its Thilmany Papers business unit to KPS Capital Partners. Financial terms were not announced. Included in the deal are the Thilmany Papers’ Nicolet and Kaukauna mills and Wausau Paper’s Mosinee and Rhinelander mills, all of which are located in Wisconsin, as well as the output of Verso Paper’s number five paper machine in Jay, Maine, a release dated April 22 said.

A 30% carry didn’t stop KPS Capital Partners from closing its fourth fund in record time.

In the private equity world, how fast is fast? KPS Capital Partners needed less three months to raise its most recent fund, which collected $3.5 billion.

KPS Capital Partners is out fundraising for its next pool, which has a $3 billion target, three sources tell peHUB.

Chassis Brakes International, a brakes and brakes component maker (and portfolio company of the private equity firm KPS Capital Partners), has acquired substantially all of the assets of Autocast and Forge Pty Ltd (ACF), which is among Australia’s largest independent cast iron foundries and serves the automotive industry.

Daimler is taking a minority stake in Motor Coach Industries International, which is backed by KPS Capital Partners. Financial terms weren’t announced. As part of the strategic partnership, MCI will become the exclusive distributor of Setra motor coaches and aftermarket parts in the United States and Canada. MCI, of Schaumburg, Ill., makes intercity highway coaches in [...]

International Equipment Solutions, which is backed by KPS Capital Partners, has acquired Siac do Brasil Ltda. Financial terms weren’t disclosed. Siac do Brasil makes cab enclosures in Brazil. PRESS RELEASE KPS Capital Partners, LP (“KPS”) today announced that its portfolio company International Equipment Solutions, LLC (“IES”) has acquired, through an indirect, wholly owned subsidiary, Siac [...]

North Castle Partners, a firm that specializes in buying companies that promote healthy living, is interested in more turnaround deals.

Trending in the news this week: Audax Group, Canopy Financial, Chamath Palihapitiya, Eric Schmidt, Henry Ellenbogen, Identified, Indiana Public Retirement System, KPS Capital Partners, SecureNet, Sterling Partners, T. Rowe Price and Bill and Tim Draper.