KPS Capital Partners to Acquire Aluminum Rolling Business from Norsk Hydro ASA
KPS to Leverage Successful Track Record Investing in Metals to Accelerate Growth
NEW YORK, March 5, 2021 /PRNewswire/ KPS Capital Partners, LP ( KPS ) today announced that it has signed a definitive agreement to acquire the global aluminum rolling business ( Rolling or the Company ) from Norsk Hydro ASA (NHY.OL, Hydro ) for €1.38 billion (approximately $1.67 billion). Completion of the transaction is expected mid-year 2021 and is subject to customary closing conditions and approvals.
The Company is one of the largest global manufacturers of aluminum rolled products, serving customers across a diversified set of end-markets including beverage can, automotive, foil packaging, and building and construction. The Company s assets consist of seven manufacturing facilities and one R&D center across Germany and Norway, including Alunorf, the world s largest aluminum rolling mill, and Grevenbroich, the wo