KKR & Co. Inc. entered into a definitive agreement to acquire CoolIT Systems Inc.
May 01, 2023
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KKR & Co. Inc. (NYSE:KKR) entered into a definitive agreement to acquire CoolIT Systems Inc. on May 2, 2023. As part of the deal, CoolIT will expand its equity ownership programme to make all employees owners of the company. The transaction is rumored to be valued at approximately $270 million (€244.6 million), according to a report by the Wall Street Journal. The transaction is subject to regulatory approvals and customary closing conditions. The acquisition is expected to close in the second quarter of 2023. John Pitts, Ben Hardison, David Wheat, Ryan Phelps, Rob Fowler and Shellie Freedman of Kirkland & Ellis LLP acted as legal advisor to KKR & Co. Jefferies Securities, Inc. acted as financial advisor to CoolIT Systems, Inc.
Ken Ottenbreit, Stewart Sutcliffe, Michael Decicco, Rhonda Parhar, Kayla Zachariassen, Alexandra Ghelerter, Aya Taher (Corporate/M&A); John Lorito, John Lennard (Tax); Kevin Ackhurst, Irma Shaboian (Competition); Kathleen Chevalier, Kris Noonan, Jennifer Koschinsky (Labour & Employment); Mark Firman, Madison Sutherland (Benefits); Justin Parappally (Banking & Finance); Larry Cobb, Patrick Welsh (Environmental); Shawn Smith, Sara Shayan (IT & Privacy); Jonathan Auerbach, Andrea Kroetch (IP); Catherine Grygar and Jordan Jenkins (Real Estate) of Stikeman Elliott LLP acted as legal advisors for KKR. Robert W. Baird & Co. Incorporated acted as financial advisor to KKR & Co.
nVent Electric plc is a global provider of electrical connection and protection solutions. The Company designs, manufactures, markets, installs and services products and solutions. It operates in three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control and power equipment. Its cooling, power distribution and enclosures solutions manage power and create protected operating environments for applications. The Electrical & Fastening Solutions segment provides fastening solutions that connect and protect electrical and mechanical systems and civil structures. The Thermal Management segment provides electric thermal solutions that connect and protect critical buildings, infrastructure, industrial processes and people. It has a portfolio of brands, including nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, TRACER, ILSCO, Gardner Bender, and King Innovation.
NVENT ELECTRIC PLC 
