KKR Partners with Veteran CEO Andy Silvernail to Pursue Acquisition Opportunities in the Americas

Rhea-AI Summary

KKR has partnered with Andrew K. Silvernail, former Chairman and CEO of Madison Industries and IDEX Corporation, to explore acquisition opportunities in the Americas. Silvernail will serve as an Executive Advisor, focusing on sectors like industrials and healthcare. He brings over 20 years of experience and a proven track record of shareholder returns. KKR plans to leverage his leadership to enhance operational performance and implement an employee ownership program. KKR's strategy includes investing in middle market businesses, furthering its commitment to shared ownership models.

Positive

• Partnership with Andrew K. Silvernail expected to enhance acquisition strategies.
• Silvernail's experience could drive significant operational improvements.
• Focus on employee ownership may increase employee engagement and retention.
• KKR's investment approach aims at driving value creation across selected sectors.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- KKR, a leading global investment firm, announced today that it is partnering with Andrew K. “Andy” Silvernail, the former Chairman and CEO of Madison Industries and IDEX Corporation, to pursue new acquisition opportunities.

Mr. Silvernail will work alongside KKR as an Executive Advisor to evaluate Americas investment opportunities across multiple sectors, including industrials, health care, and consumer products. Once a company is acquired, Mr. Silvernail will collaborate with KKR to drive breakthrough operating performance and implement KKR’s broad-based employee ownership program. Mr. Silvernail will be spending a portion of his time advising on investments for KKR Ascendant, a new strategy within KKR’s Americas Private Equity platform that focuses on investing in middle market businesses across the same sectors and themes as the broader platform.

Mr. Silvernail brings over two decades of experience leading and managing large global companies. Most recently, he served as Chairman and CEO of Madison Industries, one of the world’s largest privately held companies. Prior to that, he was Chairman and CEO of IDEX Corporation from 2011 to 2020, where he oversaw more than 500 percent growth in total shareholder return. Before joining IDEX Corporation, Mr. Silvernail held executive positions at Rexnord Industries, Newell Rubbermaid and Danaher Corporation. He also serves on the Board of Directors of Stryker Corporation.

“We are thrilled to welcome Andy as an Executive Advisor to our firm,” said Pete Stavros and Nate Taylor, Co-Heads of the Americas Private Equity platform at KKR. “With his proven track record of leadership and value creation, we are confident that Andy will be a phenomenal partner to our team as we continue to execute on our investment approach of driving holistic operational transformations across a variety of industries.”

“We have long admired Andy’s work in building IDEX into a best-in-class Industrials company and a benchmark for profitability and return on invested capital, as well as a proving ground for some of the most talented leaders in our industry. We cannot wait to have the opportunity to partner with Andy to create value on behalf of our investors,” added Josh Weisenbeck, Partner at KKR who leads KKR’s Industrials investment team.

“I have followed KKR for many years and have consistently been impressed by the firm’s ability to source exceptional investment opportunities and create lasting value for all stakeholders, especially through their commitment to shared ownership and employee engagement,” said Mr. Silvernail.

Since 2011, KKR has focused on employee ownership and engagement as a key driver in building stronger companies and driving greater financial inclusion. To date, KKR has awarded billions of dollars of total equity value to more than 45,000 non-senior employees across over 25 companies, and has committed to deploying this model in all control investments across its entire Americas Private Equity platform. In April 2022, KKR joined more than 60 organizations in becoming a founding partner of Ownership Works, a nonprofit created to support public and private companies transitioning to shared ownership models.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220621005120/en/

Media

Julia Kosygina

212-750-8300

media@kkr.com

Source: KKR

FAQ

What is the significance of KKR's partnership with Andrew K. Silvernail?

The partnership aims to leverage Silvernail's extensive experience to pursue new acquisition opportunities across multiple sectors in the Americas.

Which sectors will KKR focus on with Silvernail's guidance?

KKR will focus on industrials, healthcare, and consumer products for potential acquisitions.

What is KKR's strategy for employee ownership?

KKR emphasizes employee ownership to drive operational performance and financial inclusion, having awarded billions to non-senior employees.

What experience does Andrew K. Silvernail bring to KKR?

Silvernail has over two decades of leadership experience, notably at Madison Industries and IDEX Corporation, where he achieved significant growth in shareholder returns.

How does KKR plan to implement its new strategy?

KKR intends to use Silvernail's expertise to support its new strategy, KKR Ascendant, which targets investment in middle market businesses with a focus on operational transformations.