M&A Deal Summary

KKR Acquires Angelica

On April 3, 2017, private equity firm KKR acquired business services company Angelica from Trilantic North America

Acquisition Highlights
  • This is KKR’s 8th transaction in the Business Services sector.
  • This is KKR’s 97th transaction in the United States.
  • This is KKR’s 6th transaction in Georgia.

M&A Deal Summary

Date 2017-04-03
Target Angelica
Sector Business Services
Buyer(s) KKR
Sellers(s) Trilantic North America
Deal Type Special Situations/Distressed
Advisor(s) Weil Gotshal & Manges (Legal)

Target

Angelica

Alpharetta, Georgia, United States
Angelica is a provider of textile rental and linen management services to the U.S. healthcare market. The organization provides laundry and linen management services to hospitals, long term care facilities, and out-patient medical practices from 26 service centers across the nation. Angelica was founded in 1878 and is based in Alpharetta, Georgia.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 232 of 485
Sector (Business Services) 8 of 18
Type (Special Situations/Distressed) 1 of 3
State (Georgia) 6 of 7
Country (United States) 97 of 210
Year (2017) 13 of 41
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-31 Ambea

Stockholm, Sweden

Ambea is an elderly and disabled care services provider. Ambea was formed in 1996 and is based in Stockholm, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-11 Lyft

San Francisco, California, United States

Lyft is a ride-sharing company that connects people and communities through transportation. It helps organizations to establish private and social networks for ridesharing. Lyft was founded in 2007 and is based in San Francisco, California.

Buy -

Seller(S) 1

SELLER

Trilantic North America

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 9.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trilantic North America is a mega-sized private equity firm focused on opportunities throughout North America. Trilantic generally invests in large businesses with 'strong market positions, unique franchises, secure and growing market niches or distinctive products and services that command premium prices'. Sectors of interest include business services, consumer, energy, and financial services. The Firm's target investment size is $50 to $300 million in companies valued up to $1 billion. Transaction situations of interest include management buyouts, recapitalizations, growth capital financings, divestitures, new platforms, and generational transfers. Trilantic North America was formed in 2009 through the spin-off of Lehman Brothers' private equity business. The Firm is based in New York City.


DEAL STATS #
Overall 15 of 23
Sector (Business Services) 1 of 1
Type (Special Situations/Distressed) 1 of 1
State (Georgia) 1 of 1
Country (United States) 15 of 22
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-03 Trail Ridge Energy Partners

Grapevine, Texas, United States

Trail Ridge Energy Partners is an oil and gas exploration and production company focused primarily in the Permian Basin in West Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-24 OrthoLite

Amherst, Massachusetts, United States

OrthoLite is a manufacturer of branded open cell foam insoles and other footwear components supplied to over 250 footwear brands. OrthoLite was established in 1997 and is headquartered in Amherst, Massachusetts.

Buy -