logo
Plus   Neg
Share
Email

KKR's 49.8% Stake In Välinge To Be Bought By KIRKBI - Quick Facts

Global investment firm KKR & Co. L.P. (KKR) announced Monday that KIRKBI, the holding and investment company of the Kirk Kristiansen family, has signed an agreement to acquire KKR's 49.8% stake in Välinge, a Swedish industrial R&D company, alongside the founding Pervan family that via Pervanovo Invest AB will maintain its majority ownership of 50.2%.

Välinge, based in Viken, Sweden, has a state-of-the-art research facility, which employs more than 130 highly specialised employees and researchers. It currently holds around 1,800 patents and has expanded its IP portfolio significantly over the past five years, and may obtain over 10,000 patents from its existing applications.

In the last 12 months, high-tech large-scale production lines have been installed in Viken with a capacity of 7 million m2 of floors with Woodura and Nadura-top surface to accelerate the adoption of powder based floors.

Commenting on the acquisition, Thomas Lau Schleicher, Chief Investment Officer at KIRKBI, said, "Välinge's transformation from a technology-based to a more industrial company across many categories of surface technology will provide new, attractive revenue streams - while at the same time contributing to a more sustainable environmental impact. Looking ahead, we believe that KIRKBI through its entrepreneurial and industrial mindset is well suited to support the international commercialization of Välinge's technology and products..."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million. The chief executive officer of Google's parent company Alphabet called for artificial intelligence or AI to be regulated, noting that there are real concerns about the potential negative consequences of the technology. According to Alphabet CEO Sundar Pichai, there are real concerns about the negative consequences of AI, from deepfakes to nefarious uses of facial recognition.
Follow RTT
>