NEW YORK June 20, 2019 / PRNewswire / – KPS Capital Partners ("KPS") today announced that the company has entered into a call option agreement to sell its Chassis Brakes International Group ("Chassis Brakes"). or "Company") to Hitachi Automotive Systems, Ltd. ("Hitachi Automotive") – a wholly owned subsidiary of Hitachi, Ltd. (TSE / TYO: 6501) – has signed. Consultation with the Works Council follows. The implementation of the transaction, which is expected in 2019, is subject to standard closing conditions.
Chassis Brakes is a leader in automotive safety solutions and one of the world's three largest manufacturers of base brakes and basic brake components. The most important products in Eindhoven-based companies include brake pads, disc brakes, drum brakes and parking brakes. The company is focused on building safer, cleaner and smarter solutions ̵
KPS founded Chassis Brakes 2012 to build the global base brake business Robert Bosch GmbH – in a very complex global outsourcing transaction. Under the direction of KPS, Chassis Brakes has been transformed into an independent, fast-growing and innovative global company that utilizes its industry-leading technology portfolio of supply-specific products and capabilities with essentially all of the world's global car companies.
KPS owns chassis brakes made a better company: by putting together one of the managing director dr. Thomas Wünsche led first-class management team by building four new state-of-the-art base brake assemblies (in Poland, China India and Mexico) and built four new state-of-the-art technology and research and development centers (in Germany, India, the Netherlands and China ) and through the successful expansion in the North American car market.
Under KPS's ownership rights, Chassis Brakes has a total of EUR 230.0 million in research and development and Applied Engineering investing, leading to the commercialization of three new transformative products: the "ZOHe" gear, the disk-integrated automatic parking brake ("APB-Mi") and the drum integrated parking brake ("APB-Di").  The chassis brakes have also invested heavily in research and development and technology to support their Smart Brake ™ business and the world's first four-wheel demonstration vehicle with only these electromechanical brake cylinders (instead of conventional hydraulic brake cylinders). It was presented at the winter test in Sweden in 2019.
Michael Psaros founder and head of KPS: "Chassis brakes exemplify KPS's investment strategy to recognize values where others do not see them, to act properly and improve companies for decades, through economic and business cycles, and in different regions and industries.
"We are proud of the extraordinary transformation of Chassis Brakes under our ownership. Chassis brakes demonstrate our ability to build industry-leading manufacturing companies on a global basis. The company's success is the result of KPS's investments in research and development, applied technology, innovative new technologies and products, new production facilities and our people. We congratulate and thank Dr. Thomas Wünsche, Chief Executive Officer of Chassis Brakes, and the company's executive team for their strategic vision and good workmanship – and our employees worldwide for their excellence for excellence. "
Dr Wishes added," Working with KPS has made the chassis brakes much better, and KPS has invested heavily in our processes, products, technology and people, and we thank KPS for giving our team the skills, capital and resources they needed To expand our business and strengthen our innovation culture and continuous improvement, we look forward to the future of Chassis Brakes under the ownership of Hitachi Automotive, which continues to live up to its strategic core values - delivering highest levels of product quality to its customers, Innovation and customer service We also thank our customers, suppliers and employees for their contribution to our success. "
KPS and Chassis Brakes were assisted in the transaction by Paul, Weiss, Rifkind, Wharton & Garrison LLP as Legal Advisors and Citigroup Global Markets, Inc. as Financial Advisors.
About Chassis Brakes
Chassis Brakes International Group is one of the world's three largest manufacturers of basic brakes and basic brake components.The company is based in Eindhoven (the Netherlands), its main products, including safety-critical caliper, disc brakes, drum brakes and parking brakes, are sold directly to essentially all the world's leading car companies and through aftermarket channels. has twelve world-class, state-of-the-art manufacturing facilities, eleven technical centers and sales offices in Europe, Asia, India, North America and South America and employs nearly 5,500 people worldwide, for more information visit www.chassisbrakes.com.
About KPS Capital Partners
KPS, through its affiliated administrative units, is the head of "KPS Special Situations Funds" – a family of funded assets of approximately $ 5.0 billion as of May 31. For more than two decades, KPS partners have been exclusively committed to generating significant capital growth through the acquisition of controlling share interests in manufacturing and industrial companies in a variety of industries, including commodities, KPS builds brand for its investors by working constructively with talented management teams to improve the companies and generate returns by maintaining their strategic position and competitiveness, and the profitability of their portfolio companies is structurally improved, rather than relying primarily on financial leverage. KPS Fund's portfolio companies currently collect annual revenues of approximately $ 5.8 billion, operate 100 manufacturing facilities in 27 countries, and employ over 22,000 people – directly and through joint ventures worldwide. KPS's investment strategy and portfolio company are described in detail at www.kpsfund.com