WAUPACA (WKOW) -- A Waupaca iron foundry is being sold to a New York private equity firm.
ThyssenKrupp Waupaca Inc., described by industry experts as the largest independent iron foundry in the world, will be renamed to Waupaca Foundry Inc. by KPS Capital Partners. Financial terms of the sale were not disclosed.
The company is North America's largest supplier of castings to the auto, truck, agriculture and construction industries and makes millions of tons of iron castings a year. ThyssenKrupp Waupaca has six manufacturing plants in Wisconsin, Indiana and Tennessee. About 2,300 of its 3,500 employees work in Waupaca and Marinette.
The Journal Sentinel says ThyssenKrupp Waupaca is part of ThyssenKrupp AG, a German company with employees in 80 countries. KPS manages more than $2.8 billion in private equity funds.
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