KPS Capital Partners has agreed to acquire Metra, a maker of extruded aluminum. No financial terms were disclosed. The deal is expected to close in the second quarter of 2021. Intesa Sanpaolo S.p.A. served as lead financial advisor to KPS while Lazard S.r.l. served as financial advisor to Metra.
New York, NY (May 6, 2021) — KPS Capital Partners, LP (“KPS”) announced today that it has signed a definitive agreement to acquire Metra Holding S.p.A. and Metra S.p.A., (collectively “Metra” or the “Company”), a global manufacturer of extruded aluminum. The selling shareholders will retain 25% ownership of the Company. Upon completion of the transaction, Metra will become the fourth acquisition completed by KPS Special Situations Mid-Cap Fund (the “Mid-Cap Fund”) and KPS’ first Mid-Cap Fund acquisition in the EMEA region.
Metra is a global, vertically integrated manufacturer of extruded aluminum profiles and related value-added services, including painting, oxidation, machining, welding and assembly. The Company offers a full range of extruded aluminum profiles, which are used primarily in the industrial and building & construction end-markets across Europe and North America.
Pierre de Villeméjane, a Partner of KPS Mid-Cap Investments (“KPS Mid-Cap”), said, “We are excited to acquire Metra, a differentiated aluminum extrusion business with diverse manufacturing and finishing capabilities, broad product development competencies and a superior customer service track record. We look forward to partnering with the selling shareholders, Chief Executive Officer Enrico Zampedri, and the Metra team to accelerate growth opportunities driven by substantial investment in the Company’s assets and operations. Metra’s manufacturing expertise and commitment to quality, combined with KPS’ global strategic, operational and financial resources, provide an ideal platform for future growth. We intend to expand the business both organically and through a global acquisition strategy.”
Enrico Zampedri, Chief Executive Officer of Metra, said, “The entire Metra team is thrilled to partner with KPS as the Company enters this next phase of growth. KPS has a demonstrated track record of investing in the metals industry and exhibiting the ability to create significant value in the sector. KPS’ global reach, commitment to manufacturing excellence and the health and safety of all Metra employees combined with its significant financial resources will enable our company to realize significant growth, while maintaining our focus on quality and customer service.”
Completion of the transaction is expected in the second quarter of 2021 and is subject to customary closing conditions and approvals. Financial terms of the transaction were not disclosed.
Intesa Sanpaolo S.p.A. – IMI Corporate & Investment Banking Division served as lead financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS. Lazard S.r.l. served as financial advisor, Allen & Overy LLP served as legal counsel and EY Advisory S.p.A. served as the financial vendor due diligence advisor to Metra.
Metra is a global, vertically integrated manufacturer of extruded aluminum profiles and related value-added services, including painting, oxidation, machining, welding and assembly. The Company offers a full range of extruded aluminum profiles, which are used primarily in the industrial and building & construction end-markets across Europe and North America. Metra is headquartered in Rodengo Saiano, Italy, with five strategically located manufacturing facilities across Italy and Canada. For additional information, please visit www.metrabuilding.com or www.metraindustry.com.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with over $12.3 billion of assets under management (as of December 31, 2020). For nearly three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies have aggregate annual revenues of approximately $10.6 billion, operate 159 manufacturing facilities in 22 countries, and have approximately 34,000 employees, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.