KKR & Co. Inc. reports developments across its global investment business, including alternative asset management, capital markets activity and insurance solutions. Company news commonly covers operating results, fund and strategy activity, portfolio investments, co-investment vehicles, debt financing, and capital-structure updates.
KKR sponsors investment funds in private equity, credit and real assets, works with strategic partners that manage hedge fund platforms, and operates insurance subsidiaries that offer retirement, life and reinsurance products through Global Atlantic Financial Group. Recent company updates also reflect activity in technology growth, sports, sustainable infrastructure and insurance-related platforms.
Optiv Security has launched an e-book titled See Jane Secure, aimed at enhancing cybersecurity awareness during Cybersecurity Awareness Month. This initiative focuses on educating employees about cybersecurity practices to combat cyberthreats. The e-book outlines strategies for organizations to proactively address security challenges through tailored training and solutions. Optiv emphasizes the importance of integrating people, process, and technology to improve resilience against attacks. Additional resources will be provided throughout October, highlighting various cybersecurity areas of concern.
On Sept. 23, 2020, KKR announced its acquisition of 1-800 Contacts, the largest U.S. retailer of contact lenses, from AEA Investors. The financial terms were not disclosed, following 1-800 Contacts' growth and technology investments since AEA's purchase in 2016. The acquisition aims to leverage the company's innovations, like the ExpressExam app, which saw a 200% increase in usage during the COVID-19 crisis. KKR's investment strategy focuses on long-term growth opportunities, indicating confidence in 1-800 Contacts' customer-centric business model.
Clayton, Dubilier & Rice has reached a definitive agreement to acquire Epicor Software Corporation from KKR. Epicor, a leader in providing cloud-enabled enterprise software to industrial sectors, boasts over 20,000 global customers and a substantial recurring revenue stream, with 73% of its revenue now recurring and an impressive 60% growth rate in its SaaS business year-to-date. The transaction, expected to close later this year, signifies a new chapter for Epicor as it aims for increased investments in its product offerings under CD&R's ownership.
Borden Dairy Company announced the completion of a $340 million asset sale to Capitol Peak Partners and KKR, aimed at appropriately capitalizing the business. This transaction includes all plants, routes, and the Borden brand, with plans to retain about 3,300 employees. Gregg Engles leads the new entity as Chairman and CEO, supported by a seasoned management team. The sale concludes Borden's voluntary reorganization initiated on January 5, 2020, effectively removing ACON Investments and Grupo Lala from ownership. KKR will act as a lender and minority equity investor.
FS KKR Capital Corp. II (NYSE: FSKR) will release its second quarter 2020 results after the market closes on August 10, 2020. A conference call to discuss these results is scheduled for 10:00 a.m. Eastern Time on August 11, 2020. The call can be accessed by dialing (833) 519-1290 or via webcast on FSKR's Investor Relations website. An investor presentation will also be available post-release on the same website. FS KKR is focused on providing customized credit solutions, mainly in senior secured debt for middle market U.S. companies.
Borden, a historic dairy company, announced its acquisition by Capitol Peak Partners and KKR, following a court-supervised sale process. This transaction, valued at approximately $340 million, allows Borden to exit Chapter 11 with appropriate capitalization, retaining its workforce of about 3,300 employees. Despite challenges due to the pandemic, Borden demonstrated resilience by maintaining cash flow and expanding its customer base. The deal is anticipated to finalize by mid-July 2020, allowing Borden to continue its operations without interruption.