M&A Deal Summary

KKR Acquires Flow Control Group

On February 17, 2021, private equity firm KKR acquired distribution company Flow Control Group from Bertram Capital

Acquisition Highlights
  • This is KKR’s 4th transaction in the Distribution sector.
  • This is KKR’s 158th transaction in the United States.
  • This is KKR’s 6th transaction in North Carolina.

M&A Deal Summary
Date 2021-02-17
Target Flow Control Group
Sector Distribution
Buyer(s) KKR
Sellers(s) Bertram Capital
Deal Type Secondary Buyout

Target

Flow Control Group

Charlotte, North Carolina, United States
Flow Control Group is a solutions provider focused on technically oriented products and services for the flow control, fluid handling, and process & industrial automation sectors with locations throughout the U.S. and Canada. As a critical intermediary between over 2,000 suppliers and 10,000 customers, Flow Control Group was founded in 2014 and is based in Charlotte, North Carolina.

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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 371 of 483
Sector (Distribution) 4 of 4
Type (Secondary Buyout) 73 of 107
State (North Carolina) 6 of 7
Country (United States) 158 of 210
Year (2021) 3 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-17 Hivory

Courbevoie, France

Hivory is a high-quality telecoms infrastructure provider with a nationwide presence, benefiting from more than 10,000 strategically located sites with a diversified portfolio of ground-based towers and rooftops. The company is focused on serving the growing infrastructure needs for mobile operators to provide connectivity to all parts of the French population, meeting continued strong demand for data consumption and increased coverage. Hivory was founded in 2018 and is based in Courbevoie, France.

Sell €5.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-22 ON*NET Fibra Chile

Santiago, Chile

ON*NET Fibra Chile is a fiber-optic network that makes network open access through a newly established independent Chilean company with assets managed locally. ON*NET Fibra Chile is based in Santiago, Chile.

Buy -

Seller(S) 1

SELLER

Bertram Capital

Foster City, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bertram Capital is a private equity firm that targets buyout and growth equity investments in lower middle-market companies. Bertram looks for companies with revenues of $20 to $250 million and EBITDA of $5 to $35 million. Sectors of interest include healthcare services and infrastructure, industrial manufacturing, business and financial services, technology, and internet. Bertram will consider both control and non-control investments. Prospective transaction structures include management buyouts, shareholder liquidity events, acquisitions financing's, growth financing's, and PIPE. Bertram Capital was formed in 2006 and is based in Foster City, California.

DEAL STATS #
Overall 16 of 26
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 7 of 11
State (North Carolina) 1 of 1
Country (United States) 15 of 24
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-09 Bulk Reef Supply

Golden Valley, Minnesota, United States

Bulk Reef Supply is an ecommerce company specializing in high-value content, products, and supplies for saltwater aquarium enthusiasts. Bulk Reef Supply was founded in 2007 and is based in Golden Valley, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-20 AFC Industries

College Point, New York, United States

AFC Industries is a provider of supply chain management services and vendor-managed inventory programs to original equipment manufacturers. The company specializes in fasteners and other essential assembly components. It also provides a wide array of value-added services, including kitting, packaging, assembly, and other customization specific to their customers’ needs. AFC Industries was formed in 1987 and is based in College Point, New York.

Buy -
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