Mesirow Financial announced today that it acted as financial advisor to Fox Paine Management III, LLC (“Fox Paine”) in its acquisition of privately-held Wire Rope Corporation of America (“WRCA”) from KPS Special Situations Fund II (“KPS”). WRCA is a leading manufacturer and marketer of specialty wire rope used in a wide range of applications including oil and gas exploration; mining; construction; and specialty lifting and suspension applications.
“Mesirow Financial has been very effective in its efforts to advise private equity clients in the initiation and execution of significant platform acquisitions,” said Jeff Golman, Vice Chairman of Mesirow Financial, “We believe that WRCA is an industry leader with great growth prospects and are proud to have been involved with this successful transaction.”
Troy Thacker, a Managing Director of Fox Paine, said “We appreciate Mesirow Financial’s assistance with this transaction. Mesirow Financial is well known for its ability to identify attractive investment opportunities. In this transaction, Mesirow Financial’s relationship with WRCA and KPS Capital Partners enabled us to complete the acquisition of WRCA quickly and on a proprietary basis.”
About Fox Paine Management III, LLC
Fox Paine, together with its predecessor funds, manages in excess of $2.7 billion and provides equity capital for management buyouts, going private transactions, and company expansion and growth programs. Fox Paine engages exclusively in friendly transactions developed in cooperation with a company’s management, board of directors, and shareholders. For nearly a decade, the firm has generated exceptional returns for its investors, reflecting the firm’s insistence on careful and comprehensive diligence, value-added corporate stewardship and innovative financial, legal and tax structuring. For further information see www.foxpaine.com.
About Wire Rope Corporation of America
Wire Rope Corporation of America, Inc., based in St. Joseph, Missouri, is the largest manufacturer of wire rope and electromechanical cable in the Western Hemisphere. Through domestic and global manufacturing, it distributes wire rope and fabricated products worldwide. WRCA is the only major wire rope manufacturer in the world to be API certified, QPL Qualified, and ISO-9001:2000 registered. The company operates seven manufacturing facilities in the United States and Mexico.