Secondary Buyout • Business Services

KKR Acquires Executive Centre

On June 1, 2021, private equity firm KKR acquired business services company Executive Centre from CVC Capital Partners

Acquisition Context
  • This is KKR’s 12th transaction in the Business Services sector.
  • This is KKR’s 27th transaction in China.

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M&A Deal Summary

Date June 1, 2021
Target Executive Centre
Sector Business Services
Buyer(s) KKR
Sellers(s) CVC Capital Partners
Deal Type Secondary Buyout

Target Company

Executive Centre

Hong Kong, China
Executive Centre provides serviced offices, virtual office representation services, meeting and conference facilities, and business concierge services to multinational corporations, small and medium enterprises, and start-ups. Executive Centre was founded in 1994 and is based in Hong Kong.
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Buyer Overview 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 Context for Buyer #
Overall 393 of 503
Sector: Business Services 12 of 19
Type: Secondary Buyout 79 of 113
Country: China 27 of 30
Year: 2021 25 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Cloudera

Santa Clara, California, United States

Cloudera is an enterprise software company that offers a platform for data management, machine learning, and advanced analytics. Cloudera's platform enables organizations to use vast amounts of data from a variety of sources, including the Internet of Things (IoT), to better serve and market to their customers, design connected products and services and reduce risk through greater insight from data. Cloudera was formed in 2008 and is based in Santa Clara, California.

Buy $5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Atlantic Aviation

Plano, Texas, United States

Atlantic Aviation provides a wide range of aviation services, including a premier Fixed Based Operations chain and dedicated concierge service across the United States. Atlantic Aviation was founded in 1927 and is based in Plano, Texas.

Buy $4.5B

Seller Profile 1

SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


Deal Context for Seller #
Overall 158 of 181
Sector: Business Services 6 of 6
Type: Secondary Buyout 37 of 43
Country: China 8 of 8
Year: 2021 7 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Business Integration Partners

Milano, Italy

Business Integration Partners delivers management consulting, business integration, and IT/digital transformation services supporting international companies in the research and adoption of disruptive technological innovation. The company is present in more than 11 countries with over 1,800 professionals. Business Integration Partners was formed in 2003 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-03 A Bathing Ape

Tokyo, Japan

A Bathing Ape is specializes in men's, women's and children's lifestyle and street wear. A Bathing Ape was founded in 1993 and is based in Tokyo, Japan.

Buy -