KPS sold Genesis Worldwide II, Inc. ("Genesis II"), which it jointly owned with Pegasus Partners II, L.P., to HVS Acquisition, Inc., an affiliate of Grey Mountain Partners, LLC. Financial terms of the transaction were not disclosed.
Headquartered in Callery, Pennsylvania, Genesis Worldwide II, Inc. (www.gen-world.com) designs, engineers and manufactures high-quality metal coil processing equipment through its Herr-Voss Stamco business unit. The Company also provides mill roll reconditioning, texturing and grinding services in addition to its rebuild, repair and spare parts business. Genesis II operates seven manufacturing facilities located in Pennsylvania, Ohio, Indiana and California.
KPS and Pegasus Partners II L.P. created Genesis II to purchase the domestic businesses and assets of Genesis Worldwide, Inc. and its subsidiaries pursuant to a section 363 sale of assets in the Chapter 11 bankruptcy proceeding of Genesis Worldwide, Inc.
The United Steelworkers and the International Association of Machinists and Aerospace Workers played a critical role in making the company a success. www.gen-world.com