KPS sold Wire Rope Corporation of America, Inc. to an affiliate of Fox Paine & Co. (“Fox Paine”) in February 2007. Financial terms of the transaction were not disclosed.

Headquartered in St. Joseph, Missouri, WRCA is the Western Hemisphere’s leading producer of high carbon wire and wire rope products and is the largest domestic supplier of wire rope products to the mining, oil and gas, construction and steel industries. With over 1,500 employees, WRCA operates seven manufacturing facilities in the United States and Mexico and seven regional distribution centers.

KPS Special Situations Fund II created WRCA in June 2003 to purchase substantially all of the operating assets of Wire Rope Corp. of America, pursuant to a section 363 sale of assets in a Chapter 11 bankruptcy proceeding.
  

In June 2005 WRCA acquired Aceros Camesa, S.A. de C.V. and Camesa Inc. (collectively “Camesa”), the largest producer of wire and wire rope in Mexico. The assets of Camesa included a state-of-the-art wire facility in Mexico City, a wire rope facility in Mexico City, and a wire rope manufacturer in the Western Hemisphere and one of the largest in the world.

In July 2006, WRCA formed a joint venture, known as WISCO WRCA, with Wuhan Iron and Steel Corporation (“WISCO”), China’s third-largest steel producer, to produce wire rope in China exclusively for the Asian markets. WISCO WRCA is building the largest, most modern wire rope productions facility in the world. The Joint Venture is 51% owned by WRCA.

Very important to the success of the investment was the support of the United Steelworkers.


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