Navigation Links
KPS Capital Partners to Sell Attends Healthcare, Inc. to Domtar Corporation for $315 Million
Date:8/15/2011

NEW YORK, Aug. 15, 2011 /PRNewswire/ -- KPS Capital Partners, LP ("KPS") announced today that it signed a definitive agreement to sell its portfolio company, Attends Healthcare, Inc. ("Attends" or the "Company"), to Domtar Corporation (NYSE: UFS) (TSX: UFS) for $315 million in cash.

Raquel Palmer, a Partner of KPS, stated, "During our ownership, Attends completed a stunning turnaround and has achieved significant revenue growth year after year.  We are proud to be the catalyst for the transformation of Attends, which has resulted in the Company's acquisition by a leading strategic buyer.  We congratulate and thank Michael Fagan, Attends' Chief Executive Officer, and his management team for their strategic vision and brilliant tactical execution.  The enormous value created for our investors since we formed the Company in 2007 is the result of their collective effort." 

Michael Fagan, Chief Executive Officer of Attends, added, "KPS was the only investor to recognize the potential value of our business four years ago. Working in partnership with KPS, we quickly executed a remarkable turnaround that formed the foundation for our significant growth.  We are very grateful to KPS for its leadership and its commitment to growing our business, which included funding the modernization of our manufacturing platform.  We are thrilled to join Domtar, which has the material resources, access to capital and global reach that will enable Attends to reach another level of success."

Completion of the transaction, which is expected during the third quarter, is subject to customary closing conditions.

Paul Weiss Rifkind Wharton & Garrison LLP served as legal counsel to KPS with respect to the transaction.

About Attends Healthcare, Inc.

Attends Healthcare, Inc. is a leading manufacturer and distributor of a complete line of adult incontinence products for the North American marketplace that are sold primarily under the Attends® brand name. Attends Healthcare primarily serves the non-retail sectors with a focus on the acute care, long-term care, and rapidly growing home healthcare sectors. With over 300 employees, Attends is headquartered in Greenville, NC. For more information please visit www.attends.com.

About KPS Capital Partners, LP

KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.9 billion of assets under management focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. The KPS investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com.


'/>"/>
SOURCE KPS Capital Partners, LP
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Vycor Medical, Inc. Completes Final Close on Equity Capital Raise
2. HASCO Medical Chairman Provides $2 Million in Capital and a Personal Guarantee on Additional $2 Million Promissory Note
3. Foundation Venture Capital Group Investment Shows Promise in Diagnosis of Alzheimers Disease Using a Drop of Blood
4. Report on HIV Prevention Research Funding Says New Investment Critical to Capitalize on HIV Prevention Research Breakthroughs
5. CSA Medical Completes $12.6 Million Series A Financing With Additional Venture Investment From Blue Heron Capital
6. ECRI Institute Launches Market Analytics Tool to Help Hospitals Make More Informed Capital Purchasing Decisions
7. Boston Scientific to Donate $1 Million to ASGEs IT & T Capital Campaign to Build a New State-of-the-Art GI Training Center
8. SeraCare Acknowledges Receipt of Unsolicited Proposal from MSMB Capital
9. FluoroPharma Announces $1.6M Capital Raise
10. Merriman Capital Announces Sponsorship of Radient Pharmaceuticals Corporation on OTCQX
11. Saladax Biomedical, Inc. Completes $9 Million Debt Financing With GE Capital
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... BOCA RATON, Fla. , Dec. 5, 2016 ... has entered into a multi-product marketing agreement with ... seven (7) injectable products. Under the terms of ... products under its label in the ... approved ANDA,s and one tentatively-approved ANDA. The products ...
(Date:12/5/2016)... and PUNE, India , December 5, ... by Allied Market Research, titled, "Global Cancer Biomarkers Market - ... of cancer biomarkers market is projected to reach $15,737 million ... of 13.3% from 2016 to 2022. Omic technologies segment accounted ... and is expected to maintain its dominance during the forecast ...
(Date:12/5/2016)... 5, 2016  Recently Zymo Research announced an ... known as Horvath,s Clock. Based on this technology, ... service to academic and biopharma scientific researchers to ... other than sperm. The service quantifies ... age versus chronological age following drug treatments and ...
Breaking Medicine Technology:
(Date:12/5/2016)... , ... December 05, 2016 ... ... interoperability, today announced that the company will provide alerting technology to Central ... been recently awarded $1.7 million in federal funds as the sole sub-recipient ...
(Date:12/5/2016)... ... , ... U.S. Apple Association (USApple) begins the holiday giving season by donating ... for Education: Buy an Apple, Help a Student fundraising campaign. , ... home to their families; solar technology to efficiently process compost; and iPads to enhance ...
(Date:12/5/2016)... ... , ... “Life Will Never Be The Same” is a fictional tale about ... Be The Same” is the creation of published author, Kim T. Briggs, a self-described ... degree in Christian religion and philosophy from Judson University in Elgin, Illinois. Having written ...
(Date:12/5/2016)... ... December 05, 2016 , ... The new knee compression sleeves come ... buy neoprene knee sleeves for lifting and any sport that requires knee ... two main aspects to provide a higher quality knee sleeve performance. Firstly it is ...
(Date:12/5/2016)... ... December 05, 2016 , ... Z-Medica, LLC, a leading developer ... The American College of Surgeons (ACS) to provide basic bleeding control instructor training ... Basic” course is a pilot program that fulfills the intent of the White ...
Breaking Medicine News(10 mins):