KKR & Co. (KKR) to Acquire Hilding Anders Stake from Arle Capital
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KKR (NYSE: KKR) announced the signing of an agreement to acquire Arle Capital Partners’ stake in Hilding Anders, subject to regulatory clearances. Following the transaction, KKR will become the majority shareholder in Hilding Anders. No financial terms were disclosed and the transaction is subject to the customary regulatory approvals.
Founded in 1939, Hilding Anders has grown to become the leading bed manufacturer in Europe, Russia and Asia. The company has 9,500 employees at 23 sites across 19 countries, and sells products in 65 local markets, generating revenues of €917m in 2015. KKR first supported Hilding Anders in 2013, when KKR Credit invested €350m in the capital structure of the business as part of a comprehensive refinancing.
Christer Åberg, CEO of Hilding Anders, said: “We are pleased to welcome KKR as our new majority shareholder and look forward to drawing on their longstanding expertise and full support to grow the business further.”
Cristobal Cuart, Director at KKR Credit, said: “KKR’s operational expertise, industry know-how and experience in investing in European businesses will support Hilding Anders as it builds on its impressive market-leading position in bed manufacturing in Europe, Russia and Asia.”
Since 1996, KKR has invested in more than 55 major companies across industrial sectors in Europe, representing approximately $20 billion in invested long-term capital. KKR also has a strong track record of investing in companies in the Nordic region. Most recently, KKR partnered with the Pervan family to invest in Välinge, a world leading Swedish industrial R&D company.
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