KPS sold Ashcroft Inc. to Nagano Keiko Co., Ltd. (Japan) in a highly complex cross border transaction in May 2006. KPS more than doubled its invested equity in only six months while retaining Ashcroft's Ebro Electronic GmbH.
Ashcroft Holdings, Inc. (“Ashcroft”) manufactures a variety of pressure gauges, transducers, transmitters, pressure and temperature switches and other devices used in a wide variety of applications and industries. Its products include the Ashcroft®, Heise®, Weksler® and Willy® brands.
In November 2005, KPS completed the acquisition of Ashcroft, Inc. from Dresser Instruments through a newly formed affiliate, Ashcroft Holdings, Inc., for approximately $34 million. KPS used its operational and turnaround experience to immediately capitalize on Ashcroft's strong brands and leadership position in the market. Within sixty days from the transaction date, KPS was able to double the Company's run-rate operating cash flow.
After completing a successful turnaround of Ashcroft in less than 6 months, KPS sold Ashcroft Holdings, Inc. to Nagano Keiki Co., Ltd., a Japanese multi-national and leading manufacturer of pressure gauges, transmitters, and temperature gauges, for $55 million plus retained cash in a complex, cross-border transaction in May 2006. KPS more than doubled its invested equity capital while retaining Ebro Electronic GmbH. www.ashcroftinc.com