M&A Deal Summary

KKR Acquires CLEAResult

On September 3, 2024, private equity firm KKR acquired business services company CLEAResult from TPG

Acquisition Highlights
  • This is KKR’s 17th transaction in the Business Services sector.
  • This is KKR’s 209th transaction in the United States.
  • This is KKR’s 27th transaction in Texas.

M&A Deal Summary
Date 2024-09-03
Target CLEAResult
Sector Business Services
Buyer(s) KKR
Sellers(s) TPG
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

CLEAResult

Austin, Texas, United States
CLEAResult provides energy efficiency, transition, and sustainability services. The company collaborates with a diverse network of local partners to deliver world-class technology and personalized services, making it easy for commercial and industrial businesses, governments, utilities, and residential customers to reduce their energy use and greenhouse gas emissions. CLEAResult was founded in 2003 and is based in Austin, Texas.

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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 482 of 483
Sector (Business Services) 17 of 17
Type (Secondary Buyout) 106 of 107
State (Texas) 27 of 27
Country (United States) 209 of 210
Year (2024) 17 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-26 Varsity Brands

Farmers Branch, Texas, United States

Varsity Brands provides goods and services to the school spirit industry. The company designs, markets, and manufactures cheerleading and dance team uniforms and accessories. It elevates the student experience, promotes participation, and celebrates achievement through three unique but interrelated businesses: BSN SPORTS; Varsity Spirit; and Herff Jones. Together, these businesses promote personal, school, and community pride through their customizable products and programs to elementary and middle schools, high schools, colleges and universities, church organizations, professional and collegiate sports teams, and corporations. Varsity Brands is based in Farmers Branch, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-26 GeoStabilization

Commerce City, Colorado, United States

GeoStabilization is a provider of complex geotechnical maintenance services for critical infrastructure across the U.S. and Canada. The company develops and implements innovative solutions that protect from dangers associated with geohazards that have either caused or have the potential to cause, catastrophic infrastructure failures and significant economic disruption. GeoStabilization was founded in 2002 and is based in Commerce City, Colorado.

Sell -

Seller(S) 1

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 266 of 267
Sector (Business Services) 9 of 9
Type (Secondary Buyout) 36 of 36
State (Texas) 26 of 26
Country (United States) 192 of 193
Year (2024) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-22 PS

Los Angeles, California, United States

PS is a private luxury terminal serving commercial flights at Los Angeles International Airport. PS offers a back door to your aircraft, along with seamless security and Customs clearance, as well as luxury amenities before and after your flight. PS is based in Los Angeles, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-18 Artel

Herndon, Virginia, United States

Artel is a telecom and information technology company focused on providing a full spectrum of network management, systems/solutions integration, information assurance/homeland security, and e-commerce services. Artel was founded in 1986 and is based in Herndon, Virginia.

Sell -
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