Kkr & Co Inc - KKR STOCK NEWS

KKR has successfully completed its tender offer for FUJI SOFT, becoming the largest shareholder with a 57.92% ownership stake. The second stage of the tender offer concluded on February 19, 2025, with settlement scheduled for February 27, 2025. KKR plans to acquire the remaining shares through a squeeze-out process, aiming for 100% ownership, with an Extraordinary General Meeting planned for late April 2025.

FUJI SOFT, a leading Japanese system integration company with over 10,000 system engineers, achieved record-high performance in FY2024 with revenue of 317.5 billion yen and operating income of 22 billion yen (6.5% margin). The tender offer process was extended by four months due to a competing proposal from Bain Capital. The acquisition will be primarily financed through KKR Asian Fund IV.

KKR has announced a strategic partnership with EGC, a German energy service provider based in Düsseldorf. EGC manages approximately 2 million square meters of real estate for over 100 clients and operates around 800 central heating units. The founding family will retain ownership stake and remain active in management, while Michael Lowak joins as Chairman.

The partnership aims to transform EGC into the leading decarbonization partner for the real estate industry in Germany. EGC provides comprehensive energy services, from planning and developing concepts for energy systems to financing and operating heating units and electricity networks.

KKR will implement its employee ownership model, previously successful across 60 portfolio companies. The investment firm brings significant infrastructure expertise, managing approximately USD 77 billion in infrastructure assets, including USD 21 billion in energy transition investments. The deal is funded through KKR's Global Climate Strategy, focusing on low-carbon economy solutions.

KKR has announced the acquisition of a stake in Employment Hero from SEEK Investments, with SEEK Growth Fund remaining a material investor. Founded in 2014, Employment Hero is a leading employment management platform serving over 300,000 SMEs globally with HR management, payroll, recruitment, and employee engagement tools.

The company has achieved A$250 million in annual recurring revenue (ARR) and recently acquired Canadian platform Humi in January. The transaction, expected to complete by Q1 2025, marks KKR's latest technology growth investment in Australia through its Asia Next Generation strategy.

Employment Hero plans to focus on international expansion and platform development, leveraging KKR's experience and network. The investment follows KKR's previous growth equity investments in the region, including Advanced Navigation, SmartHR, GrowSari, KiotViet, and Privy.

KKR has announced the final close of its KKR Opportunistic Real Estate Credit Fund II (ROX II), securing over $850 million in commitments. The fund focuses on opportunistic investments in senior loans and real estate securities across the U.S. and Western Europe.

The strategy will pursue first mortgages secured by high-quality properties owned by institutional sponsors in major markets. KKR's position as the largest third-party purchaser of risk retention CMBS B-Pieces and its dedicated special servicer, K-Star, will support securities investments.

Since 2015, KKR's real estate credit strategy has originated $43.4 billion of loans and invested $14 billion in commercial mortgage-backed securities. The firm's global real estate business employs over 140 dedicated investment and asset management professionals across 16 offices.

Columbus McKinnon (NASDAQ: CMCO) has announced a definitive agreement to acquire Kito Crosby in an all-cash transaction valued at $2.7 billion. The transaction is expected to close later this year, funded by $2.6 billion in debt financing and an $0.8 billion perpetual convertible preferred equity investment from CD&R.

The combined company is projected to generate annual revenue of $2.1 billion and Adjusted EBITDA of $486 million. The merger is expected to create approximately $70 million in annual net cost synergies and improve Adjusted EBITDA margins to over 23%. The company aims to reduce its Net Leverage Ratio from 4.8x to approximately 3.0x within two years post-closing.

Kito Crosby, currently owned by KKR, operates globally with nearly 4,000 employees serving over 50 countries and generated $1.1 billion in revenue in 2024. The merger will enhance Columbus McKinnon's position in material handling solutions with expanded presence in key verticals and geographies.

XOi, a provider of jobsite-focused technology solutions, has announced the acquisition of Specifx, an on-demand data enrichment platform for field service equipment, backed by a strategic investment from KKR. This marks XOi's largest funding milestone to date.

The acquisition and investment will enhance XOi's capabilities across field service industries, supporting technicians, service providers, distributors, and OEMs. Specifx's integration will strengthen XOi's Insights product, providing enhanced asset origination, performance, and diagnostics information.

The combined resources will deliver a unified framework of proprietary and operational data to drive innovation in the mechanical, electrical, and plumbing industries. KKR's investment comes primarily from its Next Generation Technology III Fund, with the deal supported by Bass, Berry & Sims as legal advisor and Raymond James Financial as financial advisor to XOi.

KKR has announced an increase in its Second Tender Offer price for FUJI SOFT shares to 9,850 yen per share, up from 9,451 yen. The tender offer period has been extended to February 19, 2025. The increased price represents various premiums, including 33.29% over the August 7, 2024 closing price.

The decision aims to resolve uncertainty around FUJI SOFT's privatization, considering the company's elevated share price which has remained above both KKR's previous offer and Bain Capital's announced price of 9,600 yen. KKR will provide financial compensation to First Tender Offer participants within the previously announced make-whole amount of 651 yen per share.

The new offer price also includes adjusted amounts for share options: 1,277,000 yen per 5th Series Share Option, 1,139,600 yen per 6th Series Share Option, and 333,100 yen per 7th Series Share Option.

KKR & Co (NYSE: KKR) has announced its fourth quarter 2024 financial results, which have been made available on the company's investor relations website. The company will host a conference call on February 4, 2025, at 10:00 a.m. ET to discuss these results.

KKR operates as a global investment firm providing alternative asset management, capital markets, and insurance solutions. The firm manages investment funds focused on private equity, credit, and real assets, while also overseeing strategic partnerships in hedge fund management. Through its insurance subsidiaries under Global Atlantic Financial Group, KKR offers retirement, life, and reinsurance products.

Henry Schein (HSIC) announced a strategic investment from KKR, which will become the company's largest non-index fund shareholder with a 12% position through a $250 million investment. KKR can increase its stake to 14.9% through open market purchases.

The company reported preliminary Q4 2024 results with revenue of $3.2 billion and full-year 2024 revenue of $12.7 billion. Q4 GAAP EPS was $0.74, while non-GAAP EPS reached $1.19. Full-year 2024 GAAP EPS was $3.05, with non-GAAP EPS at $4.74.

For 2025, Henry Schein projects low to mid-single digit growth in both revenues and non-GAAP EPS. The company also announced a $500 million increase to its share repurchase program, with $250 million to be executed through accelerated share repurchases.