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 9th 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 LLP (Legal)

Target

Angelica

Alpharetta, Georgia, United States
website
Angelica Corp. 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.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B 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 229 of 428
Sector (Business Services) 9 of 16
Type (Special Situations/Distressed) 1 of 3
State (Georgia) 6 of 7
Country (United States) 97 of 189
Year (2017) 13 of 41
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-28 Indus Towers

Gurugram, India

Indus Towers is an operator of telecommunication services businesses in India. Bharti's primary assets include national and international long distance licenses, cellular licenses in four metropolitan cities and 11 states and fixed line licenses in five states. Indus Towers was founded in 2006 and is based in Gurugram, India.

Buy -
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

website

Category Private Equity Firm
Founded 2009
PE ASSETS 9.6B 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 22
Sector (Business Services) 1 of 1
Type (Special Situations/Distressed) 1 of 1
State (Georgia) 1 of 1
Country (United States) 15 of 21
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 -
Mergr

Product

Company

Legal