Hussey Copper purchased by equity firm

Leetsdale, Pennsylvania-based Hussey Copper has been purchased out of bankruptcy by an affiliate of New York-based KPS Capital Partners LP. Hussey, which melts copper scrap at its Leetsdale facility, was purchased as part of Libertas Copper LLC from Zohar III Ltd., with the approval of the United States Bankruptcy Court for the District of Delaware.

Hussey describes itself as a leading North American processor and fabricator of copper products and the largest North American manufacturer of copper bus bar. A Leadership in Energy and Environmental Design (LEED) qualifying statement posted to its website states, “Hussey Copper architectural copper sheet and strip is manufactured with a minimum of 95 percent recycled content.” The company says it uses internal scrap and scrap obtained by “pre-qualified industrial sources [and] scrap metal suppliers.”

According to KPS, Hussey Copper is the third acquisition completed by its KPS Special Situations Mid-Cap Fund.

Ryan Harrison, a partner of KPS Mid-Cap Investments, says, “We are very excited to acquire Hussey Copper, a market leader with best-in-class manufacturing capabilities, product offering, quality and customer service.”

Continues Harrison, “We look forward to working with CEO John Harrington, Hussey Copper’s management team and employees to build on this great platform. Hussey Copper’s strong brand and manufacturing expertise, combined with access to KPS’ strategic, operational and financial resources, provide an ideal foundation for future growth. We intend to drive the company’s growth both organically and through strategic acquisitions.”

Harrington says, “The entire Hussey Copper team is excited to partner with KPS in this next phase of growth. KPS’ tremendous track record of manufacturing excellence and investing in leading metals companies will position Hussey Copper for continued success over the long-term. We plan to work closely with KPS to develop a range of growth and operational initiatives to build upon our long and successful history.”

Locke Lord LLP served as legal counsel to KPS and its affiliates with respect to the transaction, while Lazard Middle Market LLC served as financial advisor and Latham & Watkins LLP served as legal counsel to Hussey Copper.

In addition to its Leetsdale facility, which has a melt shop, Hussey operates a bar mill and a fabrication plant in Eminence, Kentucky. KPS describes itself as the manager of a family of investment funds with over $12 billion of assets under management. Other KPS portfolio companies include engine maker Briggs & Stratton and golf club producer TaylorMade.