Reuters: Private Equity: CORRECTED-KPS eyes deals after buying ThyssenKrupp's Waupaca

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CORRECTED-KPS eyes deals after buying ThyssenKrupp's Waupaca May 15th 2012, 14:01 Tue May 15, 2012 10:01am EDT FRANKFURT May 15 (Reuters) - Private equity firm KPS Capital Partners LP on Tuesday said it is on the lookout for further acquisitions after buying Thyssenkrupp's U.S.-based iron casting business Waupaca. "I would certainly expect that over the course of 2012 we will have another announcement or two to make," said KPS founder and managing partner David Shapiro. He said it remains to be seen where KPS will focus next. "We are less a thematic investor, we are more an opportunistic investor. That is the case with foundation brakes and Waupaca. We are very comfortable with automotive," Shapiro said. KPS and ThyssenKrupp declined to disclose the financial terms of the deal, which comes after KPS bought the foundation brakes business from Robert Bosch GmBH and Daimler's motor coach business in North America. KPS sees potential for Waupaca beyond the United States. "We think we can intelligently take this great platform and take it in to some other regions of the world. We see there really is an imbalance between the supply in iron castings and the demand and we think this imbalance is set to grow," Shapiro said.

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