KPS Completes 2 Dividend Recap Deals

Two KPS Capital Partners portfolio companies have completed recapitalization transactions that will return a combined $210 million to their investors. Automotive parts manufacturer Hephaestus Holdings raised $300 million of new financing from Bank of America Merrill Lynch and Credit Suisse, which it will use to pay a $150 million dividend. Adult incontinence products company Attends Healthcare raised $98 million from Wells Fargo in part to fund a $60 million dividend.