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KPS Special Situations Fund II Completes Purchase of Speedline Technologies
November 11, 2003
KPS Special Situations Fund II has announced the acquisition of the stock and related assets of Speedline Technologies Inc. from Cookson Group PLC, for a total consideration of $10 million. Speedline's management will continue to manage the company under the Speedline Technologies name. KPS acquired the stock and related assets of Speedline through a newly formed company. KPS will invest substantial capital in the new company to fund working capital requirements at Speedline. KPS will use its operational expertise to implement a strategy designed to improve the performance of the company, capitalizing on its strong brands and leadership positions in the markets that it serves.