Kohlberg & Company Sells Pittsburgh Glass Works to LKQ Corporation
Ropes & Gray represented Kohlberg & Company portfolio company Pittsburgh Glass Works LLC in its sale to LKQ Corporation for $635 million. PGW is a leading global distributor and manufacturer of automotive glass products. Its business comprises wholesale and retail distribution services, automotive glass manufacturing, and retailer alliance partnerships. PGW operates approximately 120 distribution branches serving over 7,000 automotive glass retailer shops across North America. In addition, PGW operates 12 automotive glass fabrication facilities in North America, Europe and China.
The transaction, announced Feb. 29, is expected to be completed in the second quarter of 2016 and is subject to customary closing conditions and necessary regulatory approvals.
The Ropes & Gray team, which was led by private equity partner Christopher Rile and private equity associate Laura Steinke, also included tax partner Eric Elfman, executive compensation & employee benefits partner Loretta Richard, labor & employment partner David Mandel, real estate & environmental partner Peter Alpert, and intellectual property transactions partner David McIntosh.