M&A Deal Summary

KKR Acquires HealthCare Royalty Partners

On July 30, 2025, private equity firm KKR acquired business services company HealthCare Royalty Partners

Acquisition Highlights
  • This is KKR’s 18th transaction in the Business Services sector.
  • This is KKR’s 212th transaction in the United States.
  • This is KKR’s 3rd transaction in Connecticut.

M&A Deal Summary

Date 2025-07-30
Target HealthCare Royalty Partners
Sector Business Services
Buyer(s) KKR
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) TD Securities (Financial)

Target

HealthCare Royalty Partners

Stamford, Connecticut, United States
HealthCare Royalty Partners (HCRx) is a royalty acquisition company focused on commercial and near-commercial biopharmaceutical products. HealthCare Royalty Partners is based in Stamford, Connecticut.

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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 496 of 499
Sector: Business Services M&A 18 of 18
Type: Buyout (LBO, MBO, MBI) M&A Deals 70 of 71
State: Connecticut M&A 3 of 3
Country: United States M&A 212 of 212
Year: 2025 M&A 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-22 BBP

Singapore, Singapore

BBP provides energy savings solutions to heating, ventilation, and air conditioning systems in commercial and industrial buildings. BBP uses sensors, software algorithms, equipment controls, and customized engineering design to seek to reduce electricity consumption in chiller systems. BBP was founded in 2012 and is based in Singapore.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-14 Headlands Research

Lake Worth, Florida, United States

Headlands Research is a multinational integrated clinical trial site organization with a mission to improve lives by advancing innovative medical therapies. Headlands Research was formed in 2018 and is based in Lake Worth, Florida.

Sell -