KPS Capital Partners, LP, (KPS) announced Monday its acquisition of Bristol Compressors, Inc. from Johnson Controls, Inc., a manufacturer of building controls headquartered in Milwaukee, Wis.
KPS' newly formed affiliate will be called Bristol Compressors International, Inc.
Financial terms of the transaction were not disclosed.
Bristol, headquartered in Bristol, Va., is a manufacturer of compression technology used in air conditioning and heat pump applications, with sales in more than 50 countries.
Bristol's senior management team will work with KPS focused to improve manufacturing operations, productivity and supply chain management, and to continue new product development.
KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $600 million of committed capital focused on constructive investing in restructurings, turnarounds and other special situations.