KKR to acquire Covenant Surgical Partners; terms not disclosed
Covenant Surgical Partners announced that KKR is acquiring Covenant from DFW Capital Partners, Iroquois Capital Group, PineBridge Investments, and other existing shareholders. Financial details of the transaction were not disclosed. The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the third quarter of 2017. KKR is making its investment primarily through its KKR Americas XII Fund. Piper Jaffray & Co. acted as exclusive financial advisor and Ice Miller LLP acted as legal advisor to Covenant. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. Fully committed debt financing will be provided by Goldman Sachs and KKR Capital Markets.