Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries KKR to Invest in Precipart to Accelerate Growth By: KKR via Business Wire October 24, 2023 at 16:15 PM EDT KKR to support organic and inorganic growth to enhance Precipart’s leadership position as a provider of highly engineered precision components KKR, a leading global investment firm, announced today that it has agreed to invest in Precipart (the “Company”), a leading contract manufacturer of precision components for the medical device and aerospace industries. KKR plans to support the Company in its continued growth organically and through M&A. Financial terms were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231024406369/en/ Founded in 1950 by the Laubscher family, Precipart manufactures highly engineered custom components, offering a comprehensive solution across design, engineering, manufacturing, and assembly for leading Original Equipment Manufacturers (“OEM”). In particular, the Company is a global leader in gears and motion control solutions across a range of end market segments, including surgical robotics. The Laubscher family remains highly committed to Precipart and is retaining a significant minority ownership stake in the Company. Oliver Laubscher, CEO of Precipart, commented: “My family and I are thrilled to form this strategic partnership with KKR. With KKR’s differentiated industry insights, global network, and deep bench of resources, we will be able to expand our capability offerings substantially, serve our customers better and at greater scale, and make Precipart an even better home for our talented employees. We look forward to working with the KKR team to build on what we have accomplished over the past 73 years.” Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR, said: “We believe that Precipart has the foundational strength and customer orientation to become a global platform and are thrilled to collaborate with the Company on its growth ambitions. This investment is a solid example of our Health Care Strategic Growth approach of backing leaders in thematic areas that we have followed over time and for which we believe that KKR can serve as a strategic partner in helping reach scale.” Anuv Ratan, Director at KKR, added: “We have deep admiration and respect for the business that Oliver, his family, and the management team have built and are excited to be their chosen strategic partner to support the Company going forward. The medical device market is in need of sophisticated, scaled solution providers that can help customers navigate supply chain complexity, and we believe that Precipart is uniquely positioned to become a best-in-class partner to medical device OEMs.” KKR is investing in Precipart through its Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care-related companies. KKR has a long track record of supporting health care companies globally, having committed over $20 billion to the sector since 2004. Completion of the transaction is subject to customary closing conditions. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com. About Precipart Precipart, founded in 1950 with roots in Swiss engineering and manufacturing, is a leading contract development and manufacturing organization of highly engineered precision components and assemblies, primarily for the medical device industry as well as the aerospace and industrial markets. Precipart, through its mission to Engineer Possible, is a comprehensive solution provider supporting its customers from the concept phase to serial production and in managing their growing supply chain complexity. Major product offerings include precision machining, micro mechanical components, assemblies, gear systems, motion solutions, technical ceramics, and advanced 3D printing. View source version on businesswire.com: https://www.businesswire.com/news/home/20231024406369/en/Contacts For Precipart: Oliver Laubscher Email: media@precipart.com For KKR: Julia Kosygina or Emily Cummings +1 212-750-8300 media@kkr.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
KKR to Invest in Precipart to Accelerate Growth By: KKR via Business Wire October 24, 2023 at 16:15 PM EDT KKR to support organic and inorganic growth to enhance Precipart’s leadership position as a provider of highly engineered precision components KKR, a leading global investment firm, announced today that it has agreed to invest in Precipart (the “Company”), a leading contract manufacturer of precision components for the medical device and aerospace industries. KKR plans to support the Company in its continued growth organically and through M&A. Financial terms were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231024406369/en/ Founded in 1950 by the Laubscher family, Precipart manufactures highly engineered custom components, offering a comprehensive solution across design, engineering, manufacturing, and assembly for leading Original Equipment Manufacturers (“OEM”). In particular, the Company is a global leader in gears and motion control solutions across a range of end market segments, including surgical robotics. The Laubscher family remains highly committed to Precipart and is retaining a significant minority ownership stake in the Company. Oliver Laubscher, CEO of Precipart, commented: “My family and I are thrilled to form this strategic partnership with KKR. With KKR’s differentiated industry insights, global network, and deep bench of resources, we will be able to expand our capability offerings substantially, serve our customers better and at greater scale, and make Precipart an even better home for our talented employees. We look forward to working with the KKR team to build on what we have accomplished over the past 73 years.” Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR, said: “We believe that Precipart has the foundational strength and customer orientation to become a global platform and are thrilled to collaborate with the Company on its growth ambitions. This investment is a solid example of our Health Care Strategic Growth approach of backing leaders in thematic areas that we have followed over time and for which we believe that KKR can serve as a strategic partner in helping reach scale.” Anuv Ratan, Director at KKR, added: “We have deep admiration and respect for the business that Oliver, his family, and the management team have built and are excited to be their chosen strategic partner to support the Company going forward. The medical device market is in need of sophisticated, scaled solution providers that can help customers navigate supply chain complexity, and we believe that Precipart is uniquely positioned to become a best-in-class partner to medical device OEMs.” KKR is investing in Precipart through its Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care-related companies. KKR has a long track record of supporting health care companies globally, having committed over $20 billion to the sector since 2004. Completion of the transaction is subject to customary closing conditions. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com. About Precipart Precipart, founded in 1950 with roots in Swiss engineering and manufacturing, is a leading contract development and manufacturing organization of highly engineered precision components and assemblies, primarily for the medical device industry as well as the aerospace and industrial markets. Precipart, through its mission to Engineer Possible, is a comprehensive solution provider supporting its customers from the concept phase to serial production and in managing their growing supply chain complexity. Major product offerings include precision machining, micro mechanical components, assemblies, gear systems, motion solutions, technical ceramics, and advanced 3D printing. View source version on businesswire.com: https://www.businesswire.com/news/home/20231024406369/en/Contacts For Precipart: Oliver Laubscher Email: media@precipart.com For KKR: Julia Kosygina or Emily Cummings +1 212-750-8300 media@kkr.com
KKR to support organic and inorganic growth to enhance Precipart’s leadership position as a provider of highly engineered precision components
KKR, a leading global investment firm, announced today that it has agreed to invest in Precipart (the “Company”), a leading contract manufacturer of precision components for the medical device and aerospace industries. KKR plans to support the Company in its continued growth organically and through M&A. Financial terms were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231024406369/en/ Founded in 1950 by the Laubscher family, Precipart manufactures highly engineered custom components, offering a comprehensive solution across design, engineering, manufacturing, and assembly for leading Original Equipment Manufacturers (“OEM”). In particular, the Company is a global leader in gears and motion control solutions across a range of end market segments, including surgical robotics. The Laubscher family remains highly committed to Precipart and is retaining a significant minority ownership stake in the Company. Oliver Laubscher, CEO of Precipart, commented: “My family and I are thrilled to form this strategic partnership with KKR. With KKR’s differentiated industry insights, global network, and deep bench of resources, we will be able to expand our capability offerings substantially, serve our customers better and at greater scale, and make Precipart an even better home for our talented employees. We look forward to working with the KKR team to build on what we have accomplished over the past 73 years.” Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR, said: “We believe that Precipart has the foundational strength and customer orientation to become a global platform and are thrilled to collaborate with the Company on its growth ambitions. This investment is a solid example of our Health Care Strategic Growth approach of backing leaders in thematic areas that we have followed over time and for which we believe that KKR can serve as a strategic partner in helping reach scale.” Anuv Ratan, Director at KKR, added: “We have deep admiration and respect for the business that Oliver, his family, and the management team have built and are excited to be their chosen strategic partner to support the Company going forward. The medical device market is in need of sophisticated, scaled solution providers that can help customers navigate supply chain complexity, and we believe that Precipart is uniquely positioned to become a best-in-class partner to medical device OEMs.” KKR is investing in Precipart through its Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care-related companies. KKR has a long track record of supporting health care companies globally, having committed over $20 billion to the sector since 2004. Completion of the transaction is subject to customary closing conditions. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com. About Precipart Precipart, founded in 1950 with roots in Swiss engineering and manufacturing, is a leading contract development and manufacturing organization of highly engineered precision components and assemblies, primarily for the medical device industry as well as the aerospace and industrial markets. Precipart, through its mission to Engineer Possible, is a comprehensive solution provider supporting its customers from the concept phase to serial production and in managing their growing supply chain complexity. Major product offerings include precision machining, micro mechanical components, assemblies, gear systems, motion solutions, technical ceramics, and advanced 3D printing. View source version on businesswire.com: https://www.businesswire.com/news/home/20231024406369/en/
For Precipart: Oliver Laubscher Email: media@precipart.com For KKR: Julia Kosygina or Emily Cummings +1 212-750-8300 media@kkr.com