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KKR ties up sales negotiations with Capital Safety

Capital Safety is to be taken over by private equity group KKR.

29 November 2011

Kohlberg Kravis Roberts & Co (KKR) has announced an agreement that will see it take over British firm Capital Safety for $1.12 billion (£721 million).

Pete Stavros, a director in KKR's industrials group, said the main reason they have completed the deal is because they think there will be large growth in the fall protection equipment sector.

Because of this, extensive negotiations strategies may have been required to come to the final arrangement, as both parties could have felt they were in a strong position.

Mr Stavros continued by saying the potential for expansion into emerging markets was another attractive proposition.

"Capital Safety is well positioned to capture the significant secular growth ahead of it," he added, before going on to praise the "can do attitude" of the current board of directors.

Provided the usual regulatory approvals are met, KKR - which also recently acquired Samson as part of a consortium - is expected to tie up the deal in January.

Posted by Ken Hayes

Source: KKR press release, November 28th

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