Target: Waupaca Foundry Inc.
Value: $200 million
Sponsor: KPS Capital Partners LP
KPS Capital Partners LP is poised to pay itself and investors a hefty dividend from Waupaca Foundry Inc., an automotive parts company that the New York buyout shop acquired last summer. Ratings agencies affirmed the carveout’s overall financial health, although one worried about the specific term loan that the borrower is upsizing.A spokesman for KPS Capital declined comment, saying the transaction has not yet closed. KPS Capital bought the company last July, paying an undisclosed amount for the ThyssenKrupp Waupaca Inc. unit of ThyssenKrupp Budd Co. and renaming it. ThyssenKrupp AG, ...