M&A Deal Summary

KKR Acquires Bettcher Industries

On November 3, 2021, private equity firm KKR acquired manufacturer Bettcher Industries from MPE Partners

Acquisition Highlights
  • This is KKR’s 8th transaction in the Manufacturing sector.
  • This is KKR’s 168th transaction in the United States.
  • This is KKR’s 7th transaction in Ohio.

M&A Deal Summary
Date 2021-11-03
Target Bettcher Industries
Sector Manufacturing
Buyer(s) KKR
Sellers(s) MPE Partners
Deal Type Secondary Buyout

Target

Bettcher Industries

Birmingham, Ohio, United States
Bettcher Industries is a developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer, and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. Bettcher Industries was founded in 1944 and is based in Birmingham, Ohio.

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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 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 390 of 437
Sector (Manufacturing) 8 of 10
Type (Secondary Buyout) 86 of 109
State (Ohio) 7 of 7
Country (United States) 168 of 194
Year (2021) 31 of 40
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Biosynth Carbosynth

St. Gallen, Switzerland

Biosynth Carbosynth is a fully hybrid research products, life sciences reagents and custom synthesis and manufacturing services company with global research, manufacturing and distribution facilities. They are the supplier of choice for many in the pharmaceutical, life science, food, agrochemical, cosmetic and diagnostic sectors and manufacture and source a vast range of chemical and biochemical products. The company specializes in carbohydrates, nucleosides, phospholipids, enzyme substrates, antimicrobials, APIs and natural products and has a full range of reagents for protein production and analysis. Biosynth Carbosynth was formed in 1965 and is based in St. Gallen, Switzerland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-05 SK E&S

Seoul,, South Korea

SK E&S is a member of the SK Group, that engages in a range of businesses, including upstream such as overseas gas field development and downstream such as power generation, district energy, and city gas distribution. The company has been operating a city gas business which distributes natural gas to customers in cities and rural areas across eight regions in South Korea. It is developing 2.5GW worth of renewable energy assets, and is expanding its portfolio via large-scale investments in companies including Plug Power, Key Capture Energy and Rev Renewables. SK E&S was formed in 1999 and is based in Seoul, South Korea.

Buy -

Seller(S) 1

SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.

DEAL STATS #
Overall 56 of 58
Sector (Manufacturing) 3 of 3
Type (Secondary Buyout) 12 of 12
State (Ohio) 7 of 8
Country (United States) 54 of 56
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-15 DecoArt

Stanford, Kentucky, United States

DecoArt is a manufacturer of paints and finishes for arts, crafts, and home decorating applications. DecoArt was founded in 1985 and is based in Stanford, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 BonaDent

Seneca Falls, New York, United States

BonaDent designs and manufactures a comprehensive line of high-quality dental restorations including crowns, bridges, dentures, and implants. BonaDent was founded in 1950 and is based in Seneca Falls, New York.

Buy -
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