Navab Capital Partners officially launches


This post is by Luisa Beltran from Pe Hub Blog: Firms & Funds


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Alexander (Alex) Navab, the former head of Americas private equity at KKR, unveiled his new firm. Navab Capital Partners will invest in upper mid-cap to larger enterprises in North America in sectors including healthcare, technology, media, fintech, financial services and consumer. Goldman Sachs Asset Management’s Petershill private equity seeding program helped in the development of the firm.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Alexander (Alex) Navab, an experienced global private equity investor and former Head of Americas Private Equity at KKR, today unveiled the formation of a new private investment platform and announced the appointment of seven inaugural leaders to the firm.

The firm, named Navab Capital Partners (“NCP”), will specialize in private equity investing across upper mid-cap to larger enterprises in North America and will seek to build better businesses by incorporating growth-oriented and value creating initiatives. NCP will apply a thematic-driven approach and leverage its domain

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KKR completes buyout of BrightSpring, merges it with PharMerica


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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KKR has closed its acquisition of Louisville, Kentucky-based BrightSpring Health, a home and community-based health services provider. The amount of the acquisition was previously reported to be about $1.32 billion, with an affiliate of Walgreens Boots Alliance Inc serving as a minority investor. As part of the deal, BrightSpring has merged with KKR portfolio company PharMerica, a pharmacy services provider.

PRESS RELEASE

LOUISVILLE, Ky.–(BUSINESS WIRE)–Global investment firm KKR and BrightSpring Health Services (“BrightSpring”), one of the largest home and community-based health services providers, announced today that KKR has closed on its acquisition of BrightSpring. As part of this transaction, BrightSpring has merged with PharMerica Corporation (“PharMerica”) to now become a leading provider of both home and community-based health and pharmacy services for high-need and medically complex populations.

The strategic combination of BrightSpring and PharMerica creates a uniquely positioned, diversified health care platform with comprehensive care capabilities

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KKR sells United Group to BC Partners


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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BC Partners has acquired Amsterdam-based United Group, a media and communications services provider, from KKR. No financial terms were disclosed. KKR and United Group’s management team will retain a “substantial” minority stake in United Group as a result of the transaction. Morgan Stanley and LionTree advised BC Partners on the deal while Credit Suisse advised United Group.

PRESS RELEASE

London and Amsterdam, 04 March 2019 – BC Partners, a leading international investment firm, today announced the completion of the acquisition of majority ownership of United Group B.V. (“United Group”) from KKR, following the receipt of all necessary regulatory approvals. KKR and United Group’s management team will retain a substantial minority stake.

Founded in Serbia, and headquartered in Amsterdam, United Group is the leading independent media and communication services provider across South East Europe. Through significant investments in digital infrastructure, content and proprietary technology, it provides market-leading services to

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KKR to invest $900 mln in NextEra Energy partnership


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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KKR has agreed to invest $900 million in a partnership with NextEra Energy Partners LP that owns a geographically diverse portfolio of ten utility scale wind and solar projects across the U.S., consisting of about 1,192 megawatts.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Mar. 4, 2019– KKR today announced the signing of a definitive agreement with NextEra Energy Partners, LP (NYSE: NEP or “NEP”) to acquire an equity interest in a newly-formed partnership with NEP that owns a geographically diverse portfolio of ten utility scale wind and solar projects across the United States, collectively consisting of approximately 1,192 megawatts.

“We’re excited to partner with NextEra, a world class renewable energy developer and operator, on this portfolio of high quality contracted wind and solar assets,” said Brandon Freiman, Member of KKR and Head of the Firm’s Infrastructure business in the Americas. “This diverse portfolio of ten fully-operational renewable energy projects, all of which benefit from long-term contracts with

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KKR backs KnowBe4


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Tampa Bay, Florida-based KnowBe4, a provider of security awareness training and simulated phishing platform, has secured funding that values the company at over $800 million. The investors are KKR and Ten Eleven Ventures.

PRESS RELEASE

TAMPA BAY, Fla., March 1, 2019 /PRNewswire/ — KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, today announced that it has entered into an agreement to receive a sizable minority investment from leading global investment firm KKR, with participation from Ten Eleven Ventures. The investment, which values the company at over $800 million, comes off the back of an exceptional 2018 for KnowBe4, which reached $120 million of bookings and revenue growth of 110 percent.

“KKR is an important strategic partner for KnowBe4 as we continue to grow worldwide and bring new-school security awareness training to new markets,” said Stu Sjouwerman, CEO of KnowBe4. “We have had

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Apax Partners to sell Exact Software stake to KKR


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Apax Partners said Feb. 26 that it agreed to sell its stake in Exact Software to KKR. Financial terms weren’t announced. Exact Software, of Delft, the Netherlands, provides business and accounting software in the Benelux region.

PRESS RELEASE

KKR to Acquire Exact Software from Funds Advised by Apax Partners

London, UK, and Delft, the Netherlands, 26 February 2019 – Funds advised by Apax Partners (the “Apax Funds”) have today announced an agreement in principle to sell their stake in Exact Software (“Exact”), a leading provider of business and accounting software in the Benelux region, to KKR, a leading global investment firm. The terms of the transaction were not disclosed. Exact will now initiate consultations with its works council. The transaction is subject to customary closing conditions.

Founded in 1984 and headquartered in Delft, the Netherlands, Exact’s innovative solutions today help 6,700 accountants manage the finances of over 400,000 small businesses

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KKR forms Falcon Vision to target ophthalmic medical device, biopharma cos


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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KKR said Feb. 26 that it has formed Falcon Vision, a new platform that will source, evaluate, and provide operational and financial capabilities to emerging ophthalmic medical device and biopharmaceutical companies. Falcon Vision will collaborate with Flying L Partners to manage the portfolio under the leadership of Dr. Bill Link.

PRESS RELEASE

MENLO PARK, Calif.–(BUSINESS WIRE)–KKR today announced the creation of a new platform, Falcon Vision, which will source, evaluate, and provide operational and financial capabilities to a diversified group of emerging ophthalmic medical device and biopharmaceutical companies.
Falcon Vision will collaborate with the team at Flying L Partners, which brings together business and clinical leaders with decades of experience in building, leading, and funding high-impact ophthalmic technologies, under the leadership of Dr. Bill Link.
Dr. Link is a successful entrepreneur and investor with more than 40 years of experience in the ophthalmic sector, having founded two marquee

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BlackRock, KKR invest $4 bln in ADNOC Oil Pipelines


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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BlackRock and KKR are investing $4 billion in Abu Dhabi’s oil pipelines. BlackRock and KKR are buying 40 percent in an entity called ADNOC Oil Pipelines, which will lease ADNOC’s interest in 18 pipelines for a 23-year period.

PRESS RELEASE

Transaction marks the first midstream infrastructure partnership by leading global institutional investors and a national oil company in the Middle East

Tried and tested global infrastructure investment approach applied for the first time in the region

Transaction further demonstrates the more active management of capital and portfolio of assets as part of ADNOC’s 2030 commercially focused smart growth strategy

Paves the way for future foreign direct investment (FDI) into Abu Dhabi and the UAE

Long-term investment aligns interests of all three parties, and reinforces KKR and BlackRock’s commitment to the region and to investing in key energy infrastructure
Abu Dhabi, UAE – 24 Feb, 2019: The Abu Dhabi National

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PE-backed Lemonade and Modern Market Eatery to form new restaurant platform


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Butterfly portfolio companies Lemonade Restaurant Group and Modern Market Eatery have agreed to merge and form Modern Restaurant Concepts, a restaurant platform. As part of the deal, KKR will invest in Modern Restaurant Concepts. No financial terms were disclosed. Kirkland & Ellis acted as legal adviser to Butterfly and Lemonade on the transaction while Davis Wright Tremaine did likewise for Modern Market Eatery.

PRESS RELEASE

LOS ANGELES, CA and DENVER, CO February 20th, 2019 – Lemonade Restaurant Group (“Lemonade”) and Modern Market Eatery today announced they have reached an agreement to merge and form Modern Restaurant Concepts, the nation’s leading better-for-you restaurant platform. Lemonade and Modern Market Eatery are portfolio companies of Butterfly, a Los Angeles-based private equity firm specializing in the food sector. As part of the transaction, global investment firm KKR will contribute its investment in Lemonade to the merger and become a shareholder in Modern Restaurant

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Apollo completes take-private Aspen Insurance buyout


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Apollo Global Management has closed its take-private acquisition of Aspen Insurance in an all-cash transaction valued at about $2.6 billion. As a result of the closing, Aspen stopped trading February 15, 2019 on the New York Stock Exchange and the Bermuda Stock Exchange. Goldman Sachs and J.P. Morgan Securities LLC provided financial advice to Aspen on the deal.

PRESS RELEASE

NEW YORK & HAMILTON, Bermuda–(BUSINESS WIRE)–Affiliates of certain investment funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO), a leading global alternative investment manager, and Aspen Insurance Holdings Limited (“Aspen”) (NYSE: AHL), announced today that the Apollo Funds have completed the previously announced acquisition of Aspen. The transaction, which was first announced on August 28, 2018, closed following receipt of regulatory approvals and the approval of Aspen’s shareholders.

Under the terms of the previously announced agreement and

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KKR to take minority stake in Söderberg & Partners


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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KKR will acquire a minority stake in Söderberg & Partners, a provider of wealth management and corporate pension and insurance services in the Nordic region and the Netherlands. The sellers include TA Associates. No financial terms were disclosed. The deal is expected to close during the second quarter of 2019.

PRESS RELEASE

STOCKHOLM–(BUSINESS WIRE)–Söderberg & Partners together with TA Associates and certain other selling shareholders have today reached an agreement on the terms of an investment from KKR, a leading global investment firm. KKR will acquire a substantial minority shareholding in the founder-led business, with Per-Olof Söderberg (Chairman and co-founder), Gustaf Rentzhog (CEO and co-founder) and other key founding members remaining as long-term shareholders.

The transaction is subject to ordinary conditions precedent including regulatory approval, and is expected to be completed during the second quarter of 2019.

Söderberg & Partners is a leading non-bank provider of wealth management and

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KKR invests in OneStream Software


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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KKR has agreed to invest in OneStream Software LLC. Financial terms weren’t announced. The investment values OneStream at over $1 billion. OneStream, of Rochester, Michigan, provides cloud or on-premise corporate performance management solutions for mid-sized to large enterprises.

PRESS RELEASE

ROCHESTER, Mich.–(BUSINESS WIRE)–Feb. 7, 2019– OneStream Software LLC (“OneStream”), a leading provider of cloud or on-premise Corporate Performance Management (CPM) solutions for mid-sized to large enterprises, announced today that it has entered into an agreement to receive a significant investment from KKR, funded through a combination of KKR’s private equity and growth equity funds. The capital infusion is OneStream’s first from an external investor, after achieving nearly 500% growth over the last three years while maintaining strong profitability. The investment brings the company’s valuation to over $1.0 billion.
This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190207005186/en/
“Since founding this company in 2010, after having

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Zix to buy AppRiver for $275 mln


This post is by Luisa Beltran from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Zix Corp said Jan. 15 that it agreed to buy AppRiver for $275 million. Marlin Equity Partners is the seller. AppRiver provides cloud-based cybersecurity solutions. True Wind Capital has agreed to invest $100 million in convertible preferred equity. SunTrust Bank and KeyBanc Capital Markets are providing debt.

PRESS RELEASE

Zix to Acquire AppRiver, Leading Cloud-Based Cybersecurity Solutions Provider
• Combination Creates Leading Cloud-based Email Security Provider to Small and Midsize Business (SMB) Market with over $180 Million of Annual Recurring Revenue (ARR)
• Company Also Secures $100 Million Convertible Preferred Equity Commitment from True Wind Capital and $200 Million Debt Commitment from SunTrust Bank and KeyBanc Capital Markets
• Conference Call Scheduled for Today, January 15, at 8:30 AM ET
January 15, 2019 06:31 AM Eastern Standard Time
DALLAS–(BUSINESS WIRE)–Zix Corporation (Zix) (NASDAQ:ZIXI), a leader in email security, has entered into a definitive agreement to acquire AppRiver, a leading provider

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KKR commits $1 bln to Altavair AirFinance partnership


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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KKR said Jan. 3 that it is committing $1 billion to a partnership with Altavair AirFinance, that will include buying a 50 percent stake in the commercial aviation finance company. KKR said it will also buy commercial aircraft with Altavair, who will also be KKR’s partner for aircraft leasing investments going forward. KKR’s initial investment will go towards buying six cargo aircraft on long-term lease with a diverse group of airline counterparties. KKR was advised by Simpson Thacher & Bartlett. Altavair was advised by Milbank.

PRESS RELEASE

NEW YORK & SEATTLE–(BUSINESS WIRE)–Jan. 3, 2019– KKR, a leading global investment firm, and Altavair AirFinance, a leader in commercial aviation finance, announced today that the two firms have entered into an agreement to form a long-term partnership to pursue the creation of a leading, global portfolio of leased commercial aircraft.
This press release features multimedia. View the full release here:https://www.businesswire.

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Radiant and KKR to take majority stake in Max Healthcare


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Radiant Life Care and KKR have agreed to acquire a majority stake in Max Healthcare from Max India. No financial terms were disclosed. As a result of the transaction, Radiant and Max Healthcare will merge to create the largest hospital network in North India. Max Healthcare is a provider of healthcare services in India.

PRESS RELEASE

New Delhi, Delhi, India

Radiant Life Care Private Limited (“Radiant”), a leading Indian hospital management company promoted by Abhay Soi and backed by global investment firm KKR, announced today that it has entered into a transaction whereby its shareholders will eventually acquire a majority stake in Max Healthcare Institute Limited (“Max Healthcare”) from Max India Limited (“Max India”). The acquisition will be undertaken through a series of transactions, including Radiant’s purchase of a 49.7% stake in Max Healthcare from South Africa-based hospital operator Life Healthcare in an all cash deal, followed by demerger

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KKR to invest $45 mln in Barghest Building Performance


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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KKR said Dec. 13 that it is investing up to $45 million in Barghest Building Performance. Barghest Building, of Singapre, provides heating, ventilation and air conditioning systems in commercial and industrial buildings.

PRESS RELEASE

KKR Backs Energy Savings Solutions with Investment in Singapore’s BBP
Investment Made as Part of Firm’s Impact Strategy Focused on Addressing Global Societal Challenges

SINGAPORE –December 13, 2018 – Leading global investment firm KKR today announced an investment in Barghest Building Performance (“BBP” or the “Company”), a Singapore-based provider of energy savings solutions to Heating, Ventilation and Air Conditioning (“HVAC”) systems in commercial and industrial buildings. KKR will be investing up to S$45 million in the Company.

BBP’s energy efficiency solution applies a combination of proprietary software, customized engineering, and equipment to deliver the same cooling load to sites while consuming up to 40% less energy. The solution is applicable for all central chiller plant systems,

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Cidambi, Padmanabhan to join KKR’s India credit business


This post is by Luisa Beltran from PE Hub Blog: Human Resources


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KKR said Dec. 4 that Sumanth Cidambi and Vijay Padmanabhan were named directors for the firm’s credit business in India. Cidambi has worked with corporate boards and senior management teams in Asia, Europe and the US while Padmanabhan’s experience in credit underwriting and distress investing, in the UK and India, includes working at Old Lane, Fidelity Investments, and SBI Funds Management.

PRESS RELEASE

MUMBAI, India–(BUSINESS WIRE)–Dec. 4, 2018– KKR today announced the appointment of Sumanth Cidambi and Vijay Padmanabhan as Directors for the firm’s credit business in India. Both the appointments will help KKR deepen and scale its existing India credit strategy and move into adjacencies.
KKR has been the pioneer in developing private high-yield and structured credit investing in India. The firm operates in the credit space through an NBFC and Alternative Investment Funds, suitably complemented with global capital pools. Since 2009, the firm has executed on

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KKR invests in Calabrio


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Minneapolis-based Calabrio, a provider of customer engagement and analytics software, has secured an undisclosed amount of funding. The investor was KKR.

PRESS RELEASE

Minneapolis, MN — November 13, 2018 — Calabrio, a leading provider of customer engagement and analytics software, today announced a follow-on investment from KKR to continue its rapid growth and shift to the cloud.

With this investment, Calabrio will continue its focus on providing world-class products and services to customers who increasingly want to avoid on-premises environments in favor of low-resource-intensive cloud deployments. With the global cloud-based contact center market expected to grow at a rate of 25 percent from 2017 to 2022, Calabrio’s multi-tenanted solution is poised to serve this fast-expanding customer base.

“As cloud transformation accelerates across every industry and every aspect of the enterprise, the cloud-based contact center is rapidly becoming the model for many innovative and successful organizations,” said Tom Goodmanson, president

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