DENTON, Texas, Sept. 29, 2011 /PRNewswire/ -- On September 28, 2011, United Copper Industries of Denton, Texas was acquired by KPS Capital Partners, LP, a leading U.S. private equity fund. UCI will continue to operate independently under the same name and present leadership team.
David Shapiro, a KPS Managing Partner, said, "We are very excited to acquire the assets of United Copper, which we believe represents an exceptional investment opportunity."
UCI was founded in 1999 as a small start-up company and has emerged as a leading manufacturer and distributor of building wire and cable used in the construction of industrial, residential and commercial buildings in North America. The company operates a state-of-the-art, vertically integrated manufacturing facility in North Texas, selling its products through U.S. electrical distributors.
KPS Capital Partners manages KPS Special Situation Funds, a U.S. family of private equity funds with over $2.9 billion of assets focused on constructive investing in manufacturing businesses around the world.
Andy Blanchard, CEO of UCI, said, "UCI is thrilled to become an independent, U.S.-based company owned by KPS, which recognizes the true value of our business. We are very impressed by KPS's commitment to manufacturing excellence and to supporting our growth."
Noted KPS's Shapiro, "The combination of UCI's low-cost manufacturing base, first-rate management team, operational and technical expertise, and strong customer relationships, alongside the financial resources provided by KPS, will allow UCI to achieve its full potential as an industry leader."
CEO Blanchard said that all current UCI sales programs would remain intact and honored. "Our customers can expect the change in ownership to be positive and transparent, with our business continuing to operate as usual."
Under KPS ownership, Blanchard foresaw new opportunities for expansion. "UCI will have access to capital and resources to profitably grow our business. With increased capabilities, UCI will move more quickly to develop our product line and enhance customer service."
Shapiro also looked forward to a dynamic, expanding future. "Our investment in United Copper is just the first step in the creation of a larger enterprise. We intend to aggressively grow UCI both organically and through acquisition."
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SOURCE KPS Capital Partners, LP