Wired News – Global Investment Firm KKR Acquires Industrial Tool Components Manufacturer Hyperion From Sandvik

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LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors issued a free report on KKR & Co. L.P. (NYSE: KKR) ("KKR"), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=KKR as the Company's latest news hit the wire. On December 08, 2017, the Company announced the acquisition of Hyperion from global engineering group Sandvik AB. Hyperion is a leading manufacturer of industrial tool components and delivers advanced wear-resistant tools, applications and components in hard and super-hard materials. The deal is valued at SEK 4 billion, or approximately $471.6 million. Sign up now for our free research reports at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, KKR & Co. most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

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Details of the Deal

KKR plans to finance the acquisition via its Americas XII Fund. The transaction is KKR's maiden acquisition of a middle-market business in the industrials sector. The transaction is expected to close in H1 2018 and is subject to receiving regulatory approvals and other closing conditions.

Speculation had been rife in late November 2017 that KKR had been in the race to acquire Hyperion along with private equity firm Nordic Capital. Sandvik has been restructuring its entire business and has been divesting non-core assets to be more profitable and keep ahead of its rival. It had decided to divest Hyperion in May 2016 and since then it has been looking for a suitable buyer. The business activities of Hyperion will form part of Sandvik's financial statements and will be reported under the title of "Other Operations". It plans to report the capital gains from the transaction in its financials once the transaction is completed.

Commenting on the acquisition, Pete Stavros, Member of KKR and Head of KKR's Industrials investment team, said:

"Hyperion is known for its high-quality, effective products and has a loyal customer following. We see tremendous opportunity to help support the growth of the Company and its customers by establishing the business as a standalone entity. As we have done with our other industrials investments, we plan to implement a broad-based employee engagement model upon closing the transaction to ensure all employees have a stake in the success that lies ahead."

Björn Rosengren, President and CEO of Sandvik, added:

"This agreement is an important step in focusing Sandvik on its core businesses. The divestment creates additional capacity for growth and expansion for the core business of Sandvik."

About Hyperion

Fair Lawn, New Jersey based Hyperion was formed in 2014 because of the merger between Diamond Innovations and Sandvik Hard Materials (founded in 1983). Diamond Innovations was acquired by Sandvik in 2007 from GE. Hyperion is a global manufacturer of products in hard and super-hard materials. It has over 60 years' experience in using cemented carbide, diamond and cubic boron nitride technologies, providing solutions for the most demanding applications. Hyperion manufactures tool components using this material, and these tool components are later used and completed by manufacturers. The Company also supplies finished gears or capital goods such as bearings or rotary cutters. The Company plays an important role in improving business performance of its customer by making available effective and wear-resistant tools, systems, and components in hard and super-hard materials.

The Company has approximately 1,400 employees. In the last twelve months the Company has reported revenues of 3.2 billion SEK, which represents nearly 4% of Sandvik's total revenues.

KKR's Employee Engagement Model

When KKR mentions that it will implement the employee engagement model (EEM) with Hyperion employees, it means the following:

• EEM seeks to make everyone in the Company an owner along with KKR;

• EEM invests in people via functional training programs and improving worker safety;

• EEM participates and engages in the community by teaming up with not-for-profit organizations that will benefit from Companies' products, skills, or services and help improve the quality of life of others.

KKR's Industrials private equity team has been implementing a differentiated EEM since 2011 to build stronger Companies.

About KKR & Co. L.P.

New York based KKR is a leading global investment firm. The firm manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic partners, hedge funds.

About Sandvik Group

Stockholm, Sweden-based Sandvik is a high-tech and global engineering Group. It has three main business units - Sandvik Machining Solutions, Sandvik Mining and Rock Technology, and Sandvik Materials Technology. The Group has operations in over 150 countries and is supported by a team of approximately 43,000 employees. In FY16, the Group sales was 82 billion SEK.

Stock Performance Snapshot

December 11, 2017 - At Monday's closing bell, KKR & Co.'s stock was slightly up 0.95%, ending the trading session at $20.18.

Volume traded for the day: 1.57 million shares.

Stock performance in the last month – up 3.49%; previous three-month period – up 7.57%; past twelve-month period – up 17.81%; and year-to-date - up 31.12%

After yesterday's close, KKR & Co.'s market cap was at $16.13 billion.

Price to Earnings (P/E) ratio was at 10.15.

The stock has a dividend yield of 3.37%.

The stock is part of the Financial sector, categorized under the Asset Management industry. This sector was flat at the end of the session.

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