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KPS Capital Partners, LP Portfolio Company Hephaestus Holdings, Inc. Completes Acquisition of North American Wheel Bearings Business From Delphi Corporation.

Publication: PR Newswire
Publication Date: 30-APR-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK, April 30 /PRNewswire/ -- KPS Capital Partners, LP ("KPS") today announced that its portfolio company Hephaestus Holdings, Inc. ("HHI"), through its indirect, wholly-owned subsidiary Kyklos Bearing International, Inc. ("KBI"), has completed the acquisition of substantially all the non-cash assets primarily used in the North American Bearings Business of Delphi Corporation (the "Bearings Business"). KBI acquired the Bearings Business free and clear of substantially all liens, claims, encumbrances, and interests through an auction conducted as part of a sale process under Section 363 of the United States Bankruptcy Code. The U.S. Bankruptcy Court for the Southern District of New York approved the transaction on...

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