New York, NY (January 9, 2011) -- KPS Capital Partners, LP (“KPS”) announced today that it has sold its portfolio company, Bristol Compressors International, Inc. (“Bristol”), to Garrison Investment Group LP. Bristol is a leading global manufacturer and designer of compression technology used in residential and commercial air conditioning and heat pump applications. Financial terms of the transaction were not disclosed.
Houlihan Lokey, Inc. acted as financial advisor and Edwards Wildman Palmer LLP served as legal counsel to Bristol and KPS with respect to the transaction.
About Bristol Compressors International, Inc.
Headquartered in Bristol, Virginia, Bristol Compressors International, Inc. is a leading global manufacturer and designer of compression technology used in residential and commercial air conditioning and heat pump applications. Bristol supplies many of the world’s leading HVAC manufacturers as well as wholesale distributors and its products are marketed and sold on six continents and more than fifty countries around the world. For more information please visit www.bristolcompressors.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 approximately $21.8 billion of assets under management (as of June 30, 2024). For over 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 generate aggregate annual revenues of approximately $21.6 billion, operate 245 manufacturing facilities in 26 countries, and have approximately 64,000 employees, directly and through joint ventures worldwide (as of June 30, 2024, pro forma for the recent acquisitions of Sport Group and Innomotics which closed on July 8, 2024 and October 1, 2024, respectively). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
