KKR Acquires Arle’s Stake in Hilding Anders
29 November 2016 - 10:14PM
Business Wire
Hilding Anders to benefit from full support of
KKR’s global platform for future growth
KKR, a leading global investment firm, today announced the
signing of an agreement to acquire Arle Capital Partners’ stake in
Hilding Anders, subject to regulatory clearances. Following the
transaction, KKR will become the majority shareholder in Hilding
Anders. No financial terms were disclosed and the transaction is
subject to the customary regulatory approvals.
Founded in 1939, Hilding Anders has grown to become the leading
bed manufacturer in Europe, Russia and Asia. The company has 9,500
employees at 23 sites across 19 countries, and sells products in 65
local markets, generating revenues of €917m in 2015. KKR first
supported Hilding Anders in 2013, when KKR Credit invested €350m in
the capital structure of the business as part of a comprehensive
refinancing.
Christer Åberg, CEO of Hilding Anders, said: “We are pleased to
welcome KKR as our new majority shareholder and look forward to
drawing on their longstanding expertise and full support to grow
the business further.”
Cristobal Cuart, Director at KKR Credit, said: “KKR’s
operational expertise, industry know-how and experience in
investing in European businesses will support Hilding Anders as it
builds on its impressive market-leading position in bed
manufacturing in Europe, Russia and Asia.”
Since 1996, KKR has invested in more than 55 major companies
across industrial sectors in Europe, representing approximately $20
billion in invested long-term capital. KKR also has a strong track
record of investing in companies in the Nordic region. Most
recently, KKR partnered with the Pervan family to invest in
Välinge, a world leading Swedish industrial R&D company.
- ends -
About KKR
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world‐class people, and
driving growth and value creation at the asset level. KKR invests
its own capital alongside its partners' capital and brings
opportunities to others through its capital markets business.
References to KKR's investments may include the activities of its
sponsored funds. For additional information about KKR & Co.
L.P. (NYSE:KKR), please visit KKR's website
at www.kkr.com and on Twitter @KKR_Co.
About Hilding Anders
Hilding Anders is Europe’s leading provider of beds and
mattresses. The company has strong footholds in Europe, Russia and
Asia and had net sales of €917m and EBITDA profit of €122m in 2014.
The company is majority owned by UK private equity firm Arle
Capital Partners and is based in Malm�. Started in 1939 in Bjärnum,
the company offers a broad brand portfolio including the core
brands Askona, Bico, Carpe Diem Beds, CUREM, Hilding, Jensen and
Slumberland. The company produces also private label concepts for
international and local furniture retailers as well as bedding
specialists.
Hilding Anders operates also nearly 1,000 retail outlets in
Russia, China and Croatia. The home market, Sweden, today stands
for less than 10% of Group net sales.
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version on businesswire.com: http://www.businesswire.com/news/home/20161129005669/en/
UK – KKRFinsburyVictor MalletPhone: +44(0)20 7251
3801Email: victor.mallet@finsbury.comorSweden – KKR & Hilding
AndersComirJohan HähnelPhone: +46 70 605 6334Email:
johan.hahnel@comir.se
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