M&A Deal Summary

KKR Acquires Karo Healthcare

On April 9, 2025, private equity firm KKR acquired life science company Karo Healthcare from EQT

Acquisition Highlights
  • This is KKR’s 21st transaction in the Life Science sector.
  • This is KKR’s 6th transaction in Sweden.

M&A Deal Summary

Date 2025-04-09
Target Karo Healthcare
Sector Life Science
Buyer(s) KKR
Sellers(s) EQT
Deal Type Secondary Buyout

Target

Karo Healthcare

Stockholm , Sweden
Karo Healthcare is a specialty pharmaceutical company in the Nordics. Karo Healthcare develops and markets products for pharmacies and directly to the healthcare sector. The product portfolio includes over-the-counter and prescription pharmaceuticals as well as medical devices. Karo Healthcare was incorporated in 1987 and is based in Stockholm, Sweden.

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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 490 of 499
Sector: Life Science M&A 21 of 21
Type: Secondary Buyout M&A Deals 110 of 113
Country: Sweden M&A 6 of 6
Year: 2025 M&A 4 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-23 HCG

Bangalore, India

HCG is a large provider of cancer care by operating 23 specialist centers (c.2,000 beds), three multi-specialty hospitals and seven IVF clinics. The business has an expansive geographic footprint, strong brand recognition and a reputation for clinical excellence and successful outcomes. HCG was founded in Bangalore, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-14 OSTTRA

London, United Kingdom

OSTTRA is a critical infrastructure provider in the post-trade space, processing over 80 million trades monthly. OSTTRA was formed in 2021 and is based in London.

Buy $3.1B

Seller(S) 1

SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 191 of 194
Sector: Life Science M&A 8 of 8
Type: Secondary Buyout M&A Deals 59 of 61
Country: Sweden M&A 34 of 34
Year: 2025 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-01 Eagle

Eastland, Texas, United States

Eagle is a full-service repair and maintenance facility strategically located across the United States. The Company now operates as a mission-critical, fully-integrated rail services facility network providing inspection, repair and maintenance services to railcars, ensuring the safe, efficient and low-carbon transport of hazardous and non-hazardous materials throughout the country. It serves as a trusted partner to customers across a diverse range of states and sectors, including chemicals, agriculture, energy and industrial manufacturing. Eagle was formed in 2001 and is based in Eastland, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-22 Seven Seas Water

Tampa, Florida, United States

Seven Seas Water offers Water-as-a-Service(WaaS) solutions by providing outsourced water treatment and wastewater treatment and reuse solutions for governmental, municipal, industrial, property developer and hospitality customers. Seven Seas Water was founded in 1996 and is based in Tampa, Florida.

Buy -