M&A Deal Summary

KKR and Goldman Sachs Merchant Banking Acquire KION Group

On November 6, 2006, private equity firms KKR and Goldman Sachs Merchant Banking acquired machinery company KION Group for 4.0B USD

Acquisition Highlights
  • This is KKR’s 2nd and Goldman Sachs Merchant Banking’s 1st transaction in the Machinery sector.
  • This is KKR’s 28th and Goldman Sachs Merchant Banking’s 12th largest (disclosed) transaction.
  • This is KKR’s 8th and Goldman Sachs Merchant Banking’s 5th transaction in Germany.
Investment Fate
  • KION Group went public in 2013.

M&A Deal Summary

Date 2006-11-06
Target KION Group
Sector Machinery
Buyer(s) KKR
Goldman Sachs Merchant Banking
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 4.0B USD

Target

KION Group

Frankfurt, Germany
KION Group is a worldwide provider of forklifts, warehouse equipment and other industrial trucks. Its full spectrum of services includes industrial trucks, such as forklift trucks and warehouse trucks, as well as integrated automation technologies and software solutions for the optimization of supply chains—including all related services. KION Group was founded in 2006 and is based in Frankfurt, Germany.

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Buyer(S) 2

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 48 of 503
Sector: Machinery M&A 2 of 7
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 72
Country: Germany M&A 8 of 25
Year: 2006 M&A 10 of 13
Size (of disclosed) 28 of 110
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 NXP Semiconductors

Eindhoven, Netherlands

NXP Semiconductors is a provider of semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices. NXP Semiconductors was founded in 2006 and is based in Eindhoven, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-17 HCA Healthcare

Nashville, Tennessee, United States

HCA Healthcare is a national healthcare service provider. HCA operates general and acute care hospitals with a full range of services to accommodate such medical specialties as internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, as well as diagnostic and emergency services. Outpatient and ancillary health care services are provided by general, acute care hospitals, freestanding surgery centers, diagnostic centers, and rehabilitation facilities. HCA's psychiatric hospitals provide a full range of mental health care services through inpatient, partial hospitalization and outpatient settings. HCA Healthcare was formed in 1968 and is based in Nashville, Tennessee.

Buy $33.0B
Buyer

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 34 of 189
Sector: Machinery M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 11 of 33
Country: Germany M&A 5 of 7
Year: 2006 M&A 8 of 8
Size (of disclosed) 12 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-26 Yankee Candle Co.

South Deerfield, Massachusetts, United States

Yankee Candle, is a manufacturer, wholesaler and retailer of premium scented candles.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 USI Insurance Services

Valhalla, New York, United States

USI Insurance Services is a provider of a fully integrated distribution of general and specialty property and casualty insurance and financial services such as employee benefits outsourcing and related consulting. USI Insurance Services was founded in 1994 and is based in Valhalla, New York.

Buy $1.4B