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
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
Follow RTT