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:6/23/2016)... June 23, 2016 Roche (SIX: RO, ROG; ... for its Elecsys BRAHMS PCT (procalcitonin) assay as a ... septic shock. With this clearance, Roche is the first ... integrated solution for sepsis risk assessment and management. ... infection and PCT levels in blood can aid clinicians ...
(Date:6/23/2016)... -- Bracket , a leading clinical trial technology and ... platform, Bracket eCOA (SM) 6.0, at the 52 nd ... 2016 in Philadelphia , Pennsylvania.  A demonstration ... of its kind to fully integrate with RTSM, will be ... is a flexible platform for electronic clinical outcomes assessments that ...
(Date:6/23/2016)... , June 23, 2016 ... Oticon , industry leaders in advanced ... launch of Oticon Opn ™, the world,s first ... of possibilities for IoT devices.      (Photo: ... Oticon introduces a number of ,world firsts,: ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... , ... First Choice Emergency Room , the largest network of independent ... Director of its new Mesquite-Samuell Farm facility. , “We are pleased to announce ... Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , ...
(Date:6/25/2016)... ... , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department ... in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness at ... Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of 42 ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
(Date:6/24/2016)... Dallas, Texas (PRWEB) , ... June 24, 2016 ... ... 12th International Conference and Scientific Sessions in Dallas that it will receive two ... Announcement of the grants came as PHA marked its 25th anniversary by recognizing ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... Comfort ... the American Cancer Society and the Road To Recovery® program to drive cancer patients ... seniors and other adults to ensure the highest quality of life and ongoing independence. ...
Breaking Medicine News(10 mins):