KKR & Co. Inc. - KKR STOCK NEWS

KKR, a leading global investment firm, has acquired Marmic Fire & Safety from HGGC. Marmic specializes in fire equipment inspection, testing, and maintenance services for over 56,000 customers across various sectors in the U.S. The company, founded in 1951, plays a important role in ensuring customer safety and regulatory compliance.

Key highlights:

• KKR plans to implement a broad-based employee ownership program at Marmic
• The acquisition is part of KKR's Ascendant Strategy, focusing on middle market businesses in North America
• Marmic will continue to operate as an independent company backed by KKR
• Financial terms of the deal were not disclosed

This acquisition aligns with KKR's strategy of employee engagement as a driver for building stronger companies, having previously awarded billions in equity value to over 100,000 non-senior management employees across its portfolio.

Metronet, a leading independent fiber-to-the-home (FTTH) operator in the U.S., has announced its sale to a joint venture between KKR and T-Mobile. The transaction, expected to close in 2025, will transform Metronet into a wholesale services provider, with T-Mobile taking over residential fiber retail operations. Metronet's network currently reaches over 2 million households across 17 states.

Key points:

• Oak Hill Capital and the Cinelli family, Metronet's majority shareholders, will retain minority investments in the JV
• Metronet will focus on network infrastructure while T-Mobile handles customer acquisition and support
• The company boasts the highest build pace among private fiber companies in the U.S.
• The deal aims to expand fiber broadband services to more U.S. consumers

T-Mobile (TMUS) and KKR have announced a joint venture to acquire Metronet, a leading fiber-to-the-home operator in the U.S. The deal aims to expand T-Mobile's broadband portfolio and offer fiber internet services to more consumers. Key points:

1. T-Mobile will acquire 100% of Metronet's residential fiber retail operations and customers.
2. Metronet will become a wholesale services provider, focusing on network deployment and customer installation.
3. The JV is expected to reach 6.5 million homes passed by the end of 2030.
4. T-Mobile will invest approximately $4.9 billion for a 50% equity stake in the JV.
5. The transaction is expected to close in 2025, subject to regulatory approvals.

This strategic move complements T-Mobile's existing 5G Home Internet offering and aims to meet increasing consumer demand for high-speed, reliable broadband services.

KKR, a leading global investment firm, has signed a definitive agreement to acquire Janney Montgomery Scott from The Penn Mutual Life Insurance Company. Janney, a wealth management, investment banking, and asset management firm with over $150 billion in assets under administration, will become a standalone private company after the transaction closes.

Key points:

• Janney has 900+ financial advisors across 135 U.S. offices
• KKR plans to create a broad-based equity ownership program for Janney's 2,300 employees
• The transaction is expected to close in Q4 2024
• KKR is investing primarily through its North America Fund XIII

This acquisition positions KKR to capitalize on the growing U.S. wealth management market while maintaining Janney's client-centric culture and growth-oriented mindset.

Trinseo PLC (NYSE: TSE), a specialty material solutions provider, has announced a new $150 million non-recourse financing facility with credit funds and accounts managed by KKR. This facility, collateralized by trade receivables, replaces a prior facility of the same size maturing in November 2025. The new facility extends the maturity to December 2027 and has no minimum liquidity covenants, providing Trinseo with additional financial flexibility. Frank Bozich, President and CEO of Trinseo, expressed enthusiasm for KKR's support, highlighting the extended maturity and improved terms. Giacomo Picco, a Managing Director at KKR, emphasized their expertise in global receivables financing and commitment to supporting Trinseo's growth and supply of critical materials to essential markets globally.

Carlyle and KKR have agreed to acquire a $10.1 billion prime student loan portfolio from Discover Financial Services. The acquisition, led by Carlyle's Credit Strategic Solutions team and KKR's asset-based finance strategy, showcases their expertise in private student loans and asset-backed finance. This transaction allows Discover to simplify its operations and business mix.

The deal is expected to close by the end of 2024, subject to customary conditions. Monogram , a Carlyle portfolio company, will manage the portfolio, while Firstmark Services, a Nelnet subsidiary, will service the loans. This strategic move highlights the evolving lending landscape and the increasing role of private markets in providing flexible solutions to financial institutions.

FS KKR Capital Corp. (NYSE: FSK) has announced its schedule for the release of second quarter 2024 results. The company plans to disclose its financial performance after the New York Stock Exchange closes on Tuesday, August 6, 2024. Following this, FSK will host a conference call at 9:00 a.m. (Eastern Time) on Wednesday, August 7, 2024, to discuss the results in detail.

Interested parties can participate in the live conference call by registering through a provided URL. The call will also be webcast and accessible from the Investor Relations section of FSK's website. Additionally, an investor presentation of financial information will be available on the company's website after market close on August 6. A replay of the call will be made available shortly after its conclusion.

KKR, a leading global investment firm, has acquired Park 8Ninety, a 12-building industrial logistics park in Houston, Texas, from Artis REIT for approximately $234 million. The 1.8 million square-foot park, completed between 2017 and 2022, features Class A single-tenant and multi-tenant modern logistics buildings on a 127-acre property. Strategically located in southwest Houston, the park offers direct access to major transportation routes.

This acquisition expands KKR's footprint in Houston and adds to its national logistics portfolio. KKR's Real Estate group has committed or acquired about $7.5 billion of logistics assets in the U.S. industrial sector since 2018, now owning over 48 million SF of industrial real estate in major U.S. metropolitan areas. The firm's global real estate business manages $71 billion in assets as of March 31, 2024.

KKR, in partnership with Palm Capital, has acquired a prime last-mile logistics asset in Greater Copenhagen from Catena. The asset includes 47,000 sqm of warehouse and office space, hosting long-term tenant Nemlig.com. This logistics park benefits from excellent infrastructure, including proximity to the upcoming light rail system in 2025. The acquisition is part of KKR’s strategy to expand in Nordic real estate, leveraging the supply-constrained industrial market. This deal follows KKR’s recent investments in Finland and Sweden, reinforcing their thematic investment strategies in industrial and logistics assets.