KKR acquires Minnesota Rubber and Plastics from NEP

KKR has acquired Minnesota Rubber and Plastics from Norwest Equity Partners. No financial terms were disclosed. The deal is expected to close by the end of the year. Benesch, Friedlander, Coplan & Aronoff LLP advised KKR on the transaction while Houlihan Lokey, Skadden, Arps, Slate, Meagher & Flom LLP and Ballard Spahr LLP advised MRP and NEP. MRP is a provider of elastomer and thermoplastic solutions. PRESS RELEASE MINNEAPOLIS & NEW YORK–(BUSINESS WIRE)–Quadion LLC, d.b.a. Minnesota Rubber and Plastics (“MRP” or the “Company”), a leading provider of elastomer and thermoplastic solutions, announced today that it is being acquired by KKR, a global investment firm, from Norwest Equity Partners (“NEP”), a Minneapolis-based middle-market equity investment firm. This transaction marks KKR’s second acquisition of a middle-market business in the industrials sector and is being funded through KKR’s Americas XII Fund. Financial details of the transaction were not disclosed. MRP offers
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KKR completes take-private buyout of Envision

KKR has closed its take-private acquisition of Envision Healthcare Corp for $46 per share. As a result of the closing, Envision will stop trading on the New York Stock Exchange. Based in Nashville, Envision is a provider of physician-led services and post-acute care and ambulatory surgery services. PRESS RELEASE NASHVILLE, Tenn.–(BUSINESS WIRE)–Envision Healthcare Corporation (“Envision” or the “Company”) (NYSE: EVHC) today announced the completion of the previously announced acquisition of Envision by global investment firm KKR. As a result of the completion of the merger, Envision has become a wholly owned subsidiary of funds affiliated with KKR, and Envision stockholders will receive an amount in cash equal to $46.00 per share of Envision common stock. As a result of the completion of the merger, shares of Envision’s common stock ceased trading on the NYSE prior to the opening of the NYSE today. About Envision Healthcare Corporation
Envision Healthcare
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KKR closes BMC buy

KKR said Oct. 2 that has closed its $8.5 billion buy of BMC Software. Sellers include Bain Capital Private Equity and Golden Gate Capital together with GICInsight Venture Partners, and Elliott Management. PRESS RELEASE HOUSTON, Oct. 2, 2018 /PRNewswire/ — BMC, a global leader in IT solutions for the digital enterprise, today announced the completion of the acquisition of BMC by KKR, a leading global investment firm. The company was acquired from a private investor group led by Bain Capital Private Equity and Golden Gate Capital together with GIC, Insight Venture Partners, and Elliott Management.  The terms of the agreement, which was previously announcedin May 2018, were not disclosed.
“As we embark on our next chapter with KKR, BMC continues to provide our customers with transformational solutions that help them manage and optimize information technology across cloud, hybrid, on-premise, and mainframe environments,” said Peter Leav, President and Chief Executive Officer of BMC. “With KKR’s support, and the
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KKR completes BMC buyout

KKR has closed its acquisition of Houston, Texas-based BMC, a provider of IT solutions for the digital enterprise. The sellers were an investor group led by Bain Capital Private Equity and Golden Gate Capital. PRESS RELEASE HOUSTON, Oct. 2, 2018 /PRNewswire/ — BMC, a global leader in IT solutions for the digital enterprise, today announced the completion of the acquisition of BMC by KKR, a leading global investment firm. The company was acquired from a private investor group led by Bain Capital Private Equity and Golden Gate Capital together with GIC, Insight Venture Partners, and Elliott Management. The terms of the agreement, which was previously announced in May 2018, were not disclosed. “As we embark on our next chapter with KKR, BMC continues to provide our customers with transformational solutions that help them manage and optimize information technology across cloud, hybrid, on-premise, and mainframe environments,” said Peter Leav, President and
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KKR to sell United Group

BC Partners is buying a majority of United Group BV from KKR. Financial terms weren’t announced. United Group, of Amsterdam, is a media and communication services provider across South East Europe. PRESS RELEASE London and Amsterdam, September 27th 2018 – Funds advised by BC Partners (“BC Partners”), a leading international investment firm, today announced the signing of a definitive agreement whereby BC Partners will acquire majority ownership of United Group B.V. (“United Group”) from KKR, a leading global investment firm. KKR will retain a substantial minority stake. Financial terms of the transaction were not disclosed, and the transaction is subject to relevant regulatory approvals.   United Group is the leading 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 its customers across the region. Over the past 18 years the Group has expanded its
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KKR launches SinoCare Group in China

KKR said Sept. 26 that it has launched SinoCare Group, a hospital investment and management platform company in China. At the same time, SinoCare has acquired a majority of HeTian Hospital Management Co. Financial terms weren’t announced. HeTian is a Chinese hospital management company. PRESS RELEASE BEIJING – 26 September 2018 — Global investment firm KKR today announced the creation of SinoCare Group (“SinoCare” or the “Company”), a hospital investment and management platform company in China. SinoCare aims to provide high-quality health care services to patients in China through the acquisition, build-out and consolidation of hospitals. SinoCare will work alongside KKR to bring top medical resources and management experience that aim to improve service capabilities and operational efficiencies to health care service providers within the SinoCare platform, as well as to address the high demand for quality medical services in China. The Company will build its platform through organic growth and acquisitions. Additionally,
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KKR leads $57 mln round for Clarify Health

Clarify Health Solutions Inc said Sept. 10 that it raised $57 million in Series B funding led by KKR. Clarify Health, of San Francisco, provides care guidance technology. PRESS RELEASE SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)– Clarify Health Solutions, Inc. (“Clarify” or the “Company”), a pioneer in real-time care guidance technology, today announced that it has closed $57 million in a Series B financing round led by KKR, a global investment firm. Building upon the Company’s rapid customer expansion in 2018, the injection of new capital will fuel the Company’s growth on its mission to power the personalization and optimization of every care journey.
Clarify brings hospital, health insurance, and life sciences customers the latest financial services and consumer technologies coupled with the deep clinical expertise needed to power innovative care delivery models. Clarify’s solutions deploy predictive analytics and machine learning on a comprehensive data set of over 20 terabytes – representing clinical, claims, social determinant,
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KKR adds Ulta Beauty CEO to board

KKR has named Mary N. Dillon to its board of directors. Dillion is the CEO of Ulta Beauty Inc. PRESS RELEASE NEW YORK–(BUSINESS WIRE)–KKR & Co. Inc. (NYSE: KKR) (“KKR”) today announced that effective today, Mary N. Dillon has been appointed to the Board of Directors of KKR. Her appointment will bring the number of independent directors on KKR’s Board to eight out of a total of twelve Board seats. Ms. Dillon is the Chief Executive Officer of Ulta Beauty, Inc., a Fortune 500 retailer and the premier destination for cosmetics, fragrance, skin, hair care products and services. KKR’s other independent directors include David Drummond (Senior Vice President, Corporate Development and Chief Legal Officer of Alphabet Inc.), Joseph Grundfest (Stanford Law Professor and former Commissioner of the Securities and Exchange Commission), John Hess (Director and Chief Executive Officer of Hess Corporation), Xavier Niel (Deputy Chairman and Chief Strategy
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KKR Global Infrastructure Investors III raises $7.4 bln

KKR said Sept. 6 that its latest infrastructure fund has closed on $7.4 billion. KKR, using its balance sheet and employee commitments, will invest $358 million in the pool alongside external investors. KKR Global Infrastructure Investors III will target global infrastructure investment opportunities with an emphasis on investments in OECD countries. PRESS RELEASE NEW YORK & LONDON–(BUSINESS WIRE)–Sep. 6, 2018– KKR, a leading global investment firm, today announced the final closing of KKR Global Infrastructure Investors III (the “Fund”), a $7.4 billion fund focused on pursuing global infrastructure investment opportunities with an emphasis on investments in OECD countries. KKR will be investing $358 million in capital alongside external investors through KKR’s balance sheet and employee commitments.
“The current scale of global infrastructure investment demand is simply enormous, and is only growing, with the need outstripping capital available,” said Raj Agrawal, KKR Member and Global Head of KKR’s infrastructure business. “This dynamic, coupled with limited
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KKR taps Knottenbelt for its PE team

KKR has named Daan Knottenbelt to its private equity team. In his new role, Knottenbelt will lead the firm’s financial services coverage in EMEA. He will also lead coverage of the Benelux region. Previously, he worked at Palamon Capital Partners where he was a partner and member of the firm’s operating committee. PRESS RELEASE LONDON–(BUSINESS WIRE)–KKR, a leading global investment firm, today announces the appointment of Daan Knottenbelt as a Member, effective from 20 August. Daan will lead KKR’s Financial Services coverage in EMEA as a member of the Private Equity team, and will also lead coverage of the Benelux region. Daan joins KKR from Palamon Capital Partners in London where he was a Partner and member of the firm’s Operating Committee. Daan joined Palamon in 2000 from McKinsey, where he worked in the UK, US, the Netherlands, and Belgium. He has more than 18 years of investment experience focusing
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Kido joins KKR

KKR said Sept. 4 that Kazuyuki Kido was named a managing director based in Tokyo, effective immediately. Kido most recently spent about 20 years at Nikko Securities – now known as SMBC Nikko Securities – and Nikko Principal Investments Inc. PRESS RELEASE TOKYO — September 4, 2018 — Global investment firm KKR today announced the appointment of Kazuyuki Kido as a Managing Director based in Tokyo, effective immediately.
Mr. Kido brings nearly 30 years of investment and management experience to KKR, including approximately 20 years at Nikko Securities – now known as SMBC Nikko Securities – and Nikko Principal Investments Inc. He managed approximately US$4 billion while at Nikko Principal Investments, which was one of the largest private equity investors backed by balance sheet at the time. While at Nikko Principal Investments, Mr. Kido served as a board member of Tower Records Japan, Seibu Railway, Prince Hotels, StylingLife Holdings, and BELLSYSTEM24 Holdings.
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KKR divests stake in Saba to Criteria Caixa

KKR has sold its minority stake in Saba to Criteria Caixa. No financial terms were disclosed. Based in Madrid, Saba is an industrial operator of urban mobility solutions, specializing in car park management. PRESS RELEASE London and Madrid, 30 July 2018 – KKR, a leading global investment firm, today announces the divestment of its 18.2% equity stake in Saba Infraestructuras (“Saba”) to Criteria Caixa, Saba’s existing majority shareholder. Headquartered in Madrid, Saba is an industrial operator of urban mobility solutions, specializing in car park management. The business employs more than 1,500 people across Europe and Latin America, and generated revenues of €213m and EBITDA of €100m in 2017. KKR originally acquired its equity stake in Saba through two transactions in 2011 and 2012, and has worked closely with other shareholders Criteria, Torreal and Proa and with Saba’s management team to help the business transform its operations and achieve its
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KKR to buy Discovery Midstream for $1.2 bln

KKR said July 30 that it agreed to buy Discovery Midstream for about $1.2 billion. TPG Growth is the seller. Discovery Midstream, Dallas, is a natural gas and oil gathering and natural gas processing services company. Simmons acted as financial adviser to KKR and Williams, while Simpson Thacher & Bartlett served as legal adviser to KKR. PRESS RELEASE HOUSTON–(BUSINESS WIRE)– KKR today announced that it has entered into an agreement to acquire Discovery Midstream (“Discovery”) from TPG Growth for approximately $1.2 billion. KKR is acquiring the provider of natural gas and oil gathering and natural gas processing services company through a newly formed joint venture with Williams (NYSE:WMB). The transaction is being funded primarily through KKR’s energy and infrastructure funds.
Founded in 2015 and based in Dallas, Texas, Discovery operates in the southern portion of Colorado’s Denver-Julesburg Basin (“DJ Basin”). The company’s infrastructure and related facilities are strategically
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KKR to buy Bay Club

KKR has agreed to acquire Bay Club, an active lifestyle and hospitality company. The sellers include York Capital Management, JMA Ventures and Roxborough Group. No financial terms were not disclosed. PRESS RELEASE NEW YORK & SAN FRANCISCO–(BUSINESS WIRE)– KKR, a leading global investment firm, and The Bay Club Company (“Bay Club”), a premier active lifestyle and hospitality company, today announced the signing of a definitive agreement under which KKR will acquire Bay Club from York Capital Management and minority investors, including JMA Ventures and Roxborough Group. Financial details of the transaction were not disclosed. Founded in 1977, Bay Club operates a collection of active lifestyle campuses, welcoming more than 50,000 members throughout California. The clubs are designed with innovative amenities to support the company’s focus on Fitness, Sports, Family and Hospitality. Bay Club is recognized as the pioneer of the urban sports resort. Over the past several years, Bay
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FS/KKR Advisor to merge BDCs FSIC and CCT

FS/KKR Advisor LLC, a partnership between FS Investments and KKR Credit Advisors (US) LLC have agreed to merge business development companies FS Investment Corporation and Corporate Capital Trust Inc. No financial terms were disclosed. The deal will close in the fourth quarter of 2018. Upon the completion of the transaction, the combined company will trade under the ticker symbol “FSIC” on the New York Stock Exchange and will remain externally managed by FS/KKR. PRESS RELEASE PHILADELPHIA and NEW YORK, July 23, 2018 /PRNewswire/ — FS/KKR Advisor, LLC, a partnership between FS Investments and KKR Credit Advisors (US) LLC (FS/KKR), today announced that FS Investment Corporation (NYSE: FSIC) and Corporate Capital Trust, Inc. (NYSE: CCT) have entered into a definitive agreement under which FSIC and CCT will be merged. The combined company will have on a pro-forma basis over $8 billion in assets invested in 221 portfolio companies across 23
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KKR-led group to buy LCY Chemical in $1.56 dln deal

A KKR-led consortium is buying LCY Chemical Corp in a deal valued at $1.56 billion. LCY, of Taipei, China, is a specialty chemicals company with a concentration on thermoplastic elastomers and performance plastics used in infrastructure, health care, household, automotive, textile and electronic products. PRESS RELEASE
Shareholders to Receive TWD 56 Per Share in Cash, a 17.28% Premium to July 20 Closing Price
Existing Management Team Will Continue to Lead Company with Support from KKR
Partnership Provides Greater Access to Capital and Operational Resources to Undertake Growth Opportunities in Taiwan and Around the World
TAIPEI, China–(BUSINESS WIRE)– LCY Chemical Corp. (“LCY” or the “Company”) (TPE: 1704) and global investment firm KKR today announced the signing of a share exchange agreement for a consortium led by KKR to acquire all of the issued and outstanding shares of LCY for TWD 56 per share in cash, adjusted to include
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KKR invests in RBmedia

KKR invests in RBmedia. Financial terms weren’t announced. Shamrock Capital is the seller. RBmedia, of Landover, Maryland, is an independent publisher of audiobooks with a catalogue of more than 35,000 titles. Goldman Sachs & Co LLC served as financial adviser to KKR, with Simpson Thacher & Bartlett LLP as legal adviser. LionTree is financial adviser to RBmedia, with Cooley LLP serving as legal adviser. PRESS RELEASE
LANDOVER, Md. & NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, and RBmedia, a leading digital audiobook and related spoken content producer, today announced the signing of a definitive agreement under which KKR will acquire RBmedia from Shamrock Capital. Financial details of the transaction were not disclosed.
RBmedia is the largest independent publisher of audiobooks in the world with a catalogue of more than 35,000 titles spanning all genres – from romance to business to sci-fi – with thousands of works being added each year.
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KKR completes Hyperion acquisition from Sandvik

KKR has closed its previously announced acquisition of Hyperion, a maker of industrial tool components. The seller was Sandvik. No financial terms were disclosed. Ron Voigt has been named CEO of Hyperion. PRESS RELEASE NEW YORK–(BUSINESS WIRE)– Hyperion, a leading provider of hard and super hard materials for metalworking and manufacturing process tools and other engineered products, and KKR, a global investment firm, today announced the completion of KKR’s acquisition of Hyperion from Sandvik. The transaction was funded through KKR’s Americas XII Fund and marks KKR’s first acquisition of a middle-market business in the industrials sector. Effective upon the transaction close, Ron Voigt will assume the role of Chief Executive Officer of Hyperion, responsible for the strategic direction and operating performance of the company. Mr. Voigt succeeds Johan Israelsson, who is transitioning into a newly created role as Senior Vice President of Strategy and Alliances. “I am honored to
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