Excerpts: “KKR Strikes (Gold) Again.” Legendary leveraged-buyout (LBO) firm Kohlberg Kravis Roberts struck gold on Friday, as a company in which it owns nearly an 80% interest, child-care and preschool operator KinderCare (OTC BB: KDCR.OB), announced it will be acquired by privately held Knowledge Learning in a transaction set to close before the end of […]
Richard Grassgreen
Excerpts: Kohlberg Kravis Will Buy Kindercare for $467 Million Kohlberg Kravis Roberts & Company said yesterday that it had agreed to buy Kindercare Learning Centers Inc., the nation’s largest preschool and child care company, for approximately $467 million, or $20.25 a share. Kohlberg Kravis made the announcement along with Kindercare and Oaktree Capital Management L.L.C.,
Excerpts: KKR, on Buying Spree, Will Acquire KinderCare Kohlberg Kravis Roberts & Co., continuing its recent spate of acquisitions, said it would acquire KinderCare Learning Centers Inc. for $20.25 a share, or about $470 million, plus the assumption of debt. KinderCare is the nation’s largest provider of child-care services, with 1,148 child-centers in 38 U.S.
Robert Baldwin’s return to investment banking
Excerpt: Robert Baldwin’s return to investment banking Speaking of dealmakers: CEOs of undervalued companies may be getting a call from former Morgan Stanley chairman Robert Baldwin. After five years in semiretirement, Baldwin, 69, is chairman of a year-old investment banking boutique called Lodestar Group. With nearly $300 million provided largely by Japanese investors, Lodestar has
Those Write-Offs At KinderCare
Excerpts: “Those Write-Offs At KinderCare” Watching with what must have been some nervousness were the principals of the Lodestar Group, an investment banking boutique that is underwriting an unusual recapitalization and split-up of the two companies. Lodestar could end up on the hook for up to $160 million if KinderCare’s share price falls below $5.75