JSM Financial: U.S. private equity group KKR to team up with Triton in Ambea acquisition.

March 28, 2010 - PRLog -- New York based private equity group, Kohlberg Kravis Roberts & Co., commonly known as KKR is believed to have stepped in as a surprise partner for German buy-out firm Triton in the $1.139 billion acquisition of Swedish-Finnish healthcare group Ambea, JSM Financial sources have indicated.

In early February this year Triton announced its acquisition of Ambea from the UK private equity group 3i, with no mention of any partnership with KKR on the deal.

Ambea was rumored in December last year to have appointed Morgan Stanley to advise on plans to float the company, JSM research has been informed.

Now it has emerged that KKR which already owns the HCA hospital group in the U.S.A as well as the UK’s Alliance Boots pharmacy firm, with an annual turnover of over $25 billion, has been closely tracking Ambea since late last year.

JSM Financial has learned that while KKR did not actively bid in the recent auction of Ambea, feeling that others were better positioned, it did hold talks with Triton for several weeks about a potential partnership.

The deal is likely to be financed with between $536million (€400 million) and $603 million ($450 million) bank debt. This latest deal is seen as a strong indication that KKR which backed some of the largest “mega buy-outs’ of the credit bubble, has started focusing on smaller deals.

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