July 2, 2010—Waupaca Foundry, Inc., formerly ThyssenKrupp Waupaca, announced today the completion of its acquisition by KPS Capital Partners, LP. Upon closing, the Company was renamed Waupaca Foundry, Inc.. Financial terms of the transaction were not disclosed.
Waupaca Foundry continues to be led by Gary Gigante, who is the President and Chief Executive Officer. Headquarters will remain in Waupaca, Wis.
“This is an exciting time for our employees and our customers,” said Gary Gigante. “Our affiliation with KPS will give us the resources to reinvest in our organization in order to serve the anticipated market growth.”
Waupaca Foundry was founded in 1955. In 2011 the foundry returned to pre-recession staffing levels in response to increased business in its key markets.
Waupaca Foundry employs 3,500 people at three foundries in Waupaca and one in Marinette, Wisconsin, and plants in Tell City, Indiana, and Etowah, Tennessee. Waupaca Foundry produces gray, ductile, compacted graphite and austempered ductile iron castings using state-of-the-art technology. The firm serves the automotive, commercial vehicle, agriculture, construction, and other industrial markets.