Kohlberg Kravis Roberts & Co. (KKR) announced it has entered into an agreement to acquire a controlling stake in Alliance Tire Group, a tire maker specializing in producing off-highway tires, from an affiliate of Warburg Pincus. Terms of the transaction were not disclosed.
Yogesh Mahansaria, founder of ATG, will continue to maintain an ownership stake in the company and partner with KKR to continue to grow the business.
The transaction is subject to customary closing conditions, including receipt of regulatory and third-party consents.
KKR's investment in ATG is being made through investment funds and will be supported by a financing tranche led by Crescent Mezzanine with additional participation by the Ivy High Income Fund.
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