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PRINT THIS PAGE KKR to acquire Accellent in $1.3bn deal11/10/2005. Source: AltAssets. 
 US buy-out giant Kohlberg Kravis Roberts & Co. has agreed to acquire Accellent from a private investment group led by KRG Capital Partners and DLJ Merchant Banking Partners, an affiliate of Credit Suisse First Boston, for approximately $1.27bn.
Accellent is a provider of integrated contract manufacturing and design services to the medical device industry.
As part of the transaction, members of Accellent management will partner with KKR by retaining a significant equity stake in the company.
Michael W Michelson, a member of KKR, said, 'Accellent has established itself as a leader in its industry and has posted impressive growth under the leadership of Ron Sparks and his team.
'We believe Accellent is uniquely positioned to capitalise on continued industry momentum. We look forward to working with the entire Accellent team in full support of their strategy and ongoing customer and operational initiatives,' Michelson continued.
Current KKR investments in the healthcare sector include Alliance Imaging, Jazz Pharmaceuticals and MedCath. KKR has offices in New York, Menlo Park and London.
KKR was part of the private equity consortium that recently sold all the outstanding equity of US power generation company Texas Genco to NRG Energy for approximately $5.8bn.
Copyright © 2005 AltAssets
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