KPS Capital Partners completes Metra and Profile acquisitions
KPS Capital Partners (KPS) has completed the acquisition of Metra Holding and Metra, (collectively Metra), a global manufacturer of extruded aluminium.
KPS has also completed its acquisition of Profile Custom Extrusions, (Profile), a US manufacturer of extruded aluminium, from Highlander Partners. Metra and Profile will be combined to form a global extruded aluminium profile platform with a strong presence across both Europe and North America.
Metra is a global, vertically integrated manufacturer of extruded aluminium profiles and related value-added services, including painting, oxidation, machining, welding and assembly. Metra offers a full range of extruded aluminium profiles, which are used primarily in the industrial and building & construction end-markets across Europe and North America. Metra employs approximately 850 employees across five plants in Italy and Canadas
Profile is a US manufacturer of custom, extruded aluminium profiles and related value-added services including painting, anodizing, thermal break and precision cutting. Profile provides a variety of custom extruded aluminium profiles to diverse end-markets including residential and commercial construction, HVAC, hurricane protection, transportation, electrical and marine. Profile employs approximately 170 employees in its sole facility in Rome, GA.
Pierre de Villeméjane, a Partner of KPS Mid-Cap Investments (KPS Mid-Cap), says: "By combining Metra and Profile, we will create a robust global extruded aluminium platform with an unparalleled reputation for reliability, superior quality and customer service. The strategic and industrial logic of combining Metra and Profile is compelling, as the transaction allows Metra to continue to expand its presence in new end-markets and provides a foothold for future acquisition opportunities in North America. We look forward to continuing to rapidly grow the combined business both organically and through a global acquisition strategy."
Enrico Zampedri, Chief Executive Officer of Metra, says: "The acquisition of Profile is an important step in Metra's continued geographic expansion and diversification. We are very impressed by Profile's manufacturing capabilities and the strength of its relationships with customers. Furthermore, the acquisition of Profile will significantly enhance the combined business' presence in North America and will provide the opportunity to share best practices across the two businesses that will result in better quality and service to our customer base. We are excited to work collaboratively with the Profile team to continue to build a best-in-class global extruded aluminium manufacturer."
David Newby, President of Profile, says: "The real winners of this combination are the customers of Profile and Metra. Our customers will now have access to the strengths of both businesses as we combine the very best manufacturing processes, products and services across a global manufacturing footprint. We remain committed to providing the world-class quality, delivery and customer service that Profile is known for throughout the industry as we embark on this new and exciting phase at Profile. The entire Profile management team is excited to operate under KPS and Metra's ownership to continue to build upon our long and successful history."
Financial terms of the transaction have not been disclosed.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS for the acquisition of Profile. Fidus Partners, LLC served as financial advisor and Foley & Lardner LLP served as legal counsel to Highlander Partners, LP for the sale of Profile.