KPS Capital Partners, LP ("KPS") announced today that its portfolio company Anchor Glass Container Corporation ("Anchor Glass" or the "Company") has completed a successful recapitalization. Anchor Glass raised $465 million of financing through a new term loan.
The proceeds of the recapitalization were used to refinance outstanding debt, to fund a $150 million cash distribution to stockholders and to support the Company's continued growth.
Following the recapitalization, Anchor Glass remains conservatively capitalized with the continued support of its controlling shareholder, KPS, a private equity firm with approximately $5.9 billion of assets under management. KPS, co-investors and Anchor Glass management continue to own 100% of Anchor Glass' common stock following the recapitalization.