-- KPS COMPLETES SALE OF ALL INVESTMENTS IN KPS SPECIAL SITUATIONS FUND III, LP 
AND KPS SPECIAL SITUATIONS FUND III (SUPPLEMENTAL), LP

KPS Capital Partners, LP ("KPS") announced today it has sold Crenlo Cab 
Products, LLC (together with its Emcor and Siac do Brasil affiliates, "Crenlo") 
to Angeles Equity Partners, LLC.

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KPS created International Equipment Solutions, LLC ("IES") in 2011 to acquire 
Crenlo, along with Paladin, Pengo and Genesis from Dover Corporation.  
Following the sale of Crenlo, KPS has now sold all business units of IES.  KPS 
sold IES' Attachments division (including Paladin and Pengo) to Stanley Black & 
Decker in March 2019.  KPS sold Genesis to NPK Construction Equipment in May 
2019. 

Raquel Palmer, a Managing Partner of KPS, said, "We congratulate and thank the 
Crenlo management team for their impressive execution. We are proud to have 
partnered with IES' Chief Executive Officer Steve Andrews and Chief Financial 
Officer Steve Klyn in Crenlo's incredible transformation from a non-core 
division of a large corporation into a highly profitable and thriving 
standalone company."  

Ms. Palmer added, "KPS has sold all its investments in KPS Special Situations 
Fund III, LP ("Fund III") and KPS Special Situations Fund III (Supplemental), 
LP ("Fund IIIS"), together ("Fund III / IIIS") with this sale.  We are very 
proud of our Fund III / IIIS investment campaign and its success."

Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel and 
Lincoln International served as exclusive financial advisor to KPS and Crenlo 
with respect to the transaction.

About Crenlo 

Crenlo is a leading independent manufacturer of operator cabs, locomotive 
sub-assemblies, electronic enclosures and other complex fabrications in North 
America and South America.  Headquartered in Rochester, Minnesota, Crenlo 
operates manufacturing facilities in the United States and Brazil.  For more 
information, please visit www.crenlo.com.

About KPS Capital Partners, LP 

KPS, through its affiliated management entities, is the manager of the KPS 
Special Situations Funds, a family of investment funds with approximately $11.5 
billion of assets under management (as of October 15, 2019).  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 currently have aggregate annual revenues of approximately 
$8.3 billion, operate 134 manufacturing facilities in 26 countries, and have 
approximately 28,000 employees, directly and through joint ventures worldwide.  
The KPS investment strategy and portfolio companies are described in detail at 
www.kpsfund.com.


SOURCE: KPS Capital Partners, LP


CONTACT: Business Inquiries: KPS, +1 212 338 5100; Media Relations: Mark Semer 
or Daniel Yunger, +1 212 521 4800