Waupaca Foundry, a portfolio company of KPS Capital Partners, has completed a second recapitalization. The proceeds of the recapitalization, funded by a $125 million upsizing of the company's term loan, were used to fund a $125 million cash distribution to stockholders. GE Capital Markets acted as lead arranger for the financing for the transaction. Waupaca completed its first recapitalization in February of this year, the proceeds of which were used to fund a $200 million cash distribution to stockholders. KPS bought the company, which manufactures gray and ductile iron castings, from ThyssenKrupp Budd in June 2012.