Approved · Notification · Phase 1 · decided in 21 days, 2 Apr 2026
KPS Special Situations Mid‑Cap Fund II is acquiring 100% of the shares in Novacel, a global producer of specialty processing films and industrial materials. Seller Compagnie Chargeurs Invest SA will roll-over a 25% interest. KPS invests in manufacturing and industrial companies; Novacel supplies protective films in Australia.
KPS Special Situations Mid‑Cap Fund II (KPS) proposes to acquire 100% of the shares of Chargeurs Films de Protection SAS and its US subsidiaries (Novacel, Inc., Walco, Inc. and Novacel Performance Coatings, Inc.) (Novacel). Following completion, Compagnie Chargeurs Invest SA (the Seller), will roll-over an interest of approximately 25% in Novacel, with no joint control rights (the Acquisition). KPS and its associated entities is a private investment company incorporated in the US. Through its funds, KPS makes 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. Novacel is a global producer of specialty processing films used for protecting surfaces during manufacturing, assembly, transport or installation, as well as specialty tapes and kraft papers used to protect, hold, splice, wrap or strap industrial materials, and associated specialty machines used in industrial material handling and processing. Novacel only supplies processing and protective films in Australia.