KPS Capital Partners, LP announced that, through a newly formed affiliate, it has completed the acquisition of Libertas Copper, LLC from Zohar III, Ltd. and Ark II CLO 2001-1, Ltd. KPS acquired Hussey Copper as part of an ongoing monetization process conducted by Zohar III. The United States Bankruptcy Court for the District of Delaware formally approved the transaction on November 30, 2020. Hussey Copper is the third acquisition completed by KPS Special Situations Mid-Cap Fund. Financial terms of the transaction were not disclosed.

Hussey Copper is a leading North American processor and fabricator of copper products and the largest North American manufacturer of copper bus bar. The Company offers a comprehensive portfolio of high-quality copper products used in electrical, industrial and construction applications. Hussey Copper is headquartered in Leetsdale, Pennsylvania, with three manufacturing facilities across the United States.

Ryan Harrison, a Partner of KPS Mid-Cap Investments, ("KPS Mid-Cap"), said, "We are very excited to acquire Hussey Copper, a market leader with best-in-class manufacturing capabilities, product offering, quality and customer service. We look forward to working with Chief Executive Officer 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."

John Harrington, Chief Executive Officer of Hussey Copper, said, "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. Lazard Middle Market LLC served as financial advisor and Latham & Watkins LLP served as legal counsel to Hussey Copper with respect to the transaction.

About Hussey Copper

Hussey Copper is a leading North American processor and fabricator of copper products and the largest North American manufacturer of copper bus bar. The Company offers a comprehensive portfolio of high-quality copper products used in electrical, industrial and construction applications. Hussey Copper is headquartered in Leetsdale, Pennsylvania, with three manufacturing facilities across the United States. For additional information, please visit www.husseycopper.com.

About KPS Capital Partners

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with over $12.0 billion of assets under management (as of September 30, 2020). For over two decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds' portfolio companies have aggregate annual revenues of approximately $10.3 billion, operate 158 manufacturing facilities in 22 countries, and have over 32,000 employees, directly and through joint ventures worldwide (as of September 30, 2020, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.