Paul Weiss Assists As KPS Sells Brakes Maker In €690M Deal
Law360 (June 19, 2019, 2:15 PM EDT) -- Private equity firm KPS Capital Partners, working with legal adviser Paul Weiss, has agreed to sell Netherlands-based Chassis Brakes International Group to a unit of Hitachi Ltd. for €690 million ($773 million), the companies said Wednesday.
Financial terms of the transaction were not disclosed, but a person familiar with the matter confirmed to Law360 that the deal is worth €690 million. The deal sees Hitachi Automotive Systems Ltd. picking up Chassis Brakes, which boasts being one of the three largest makers of automotive foundation brakes and related components in the world, according to a statement.
Chassis Brakes, formed in 2012 by...
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