Potter Global Joins KKR's Portfolio, Embraces Comprehensive Employee Ownership Plan

KKR & Co. KKR announces the acquisition of Potter Global Technologies, a fire and life safety equipment manufacturer. Deal terms not disclosed.

Based in St. Louis, Missouri, Potter provides fire safety and emergency communication equipment used by thousands of customers across diverse end markets, including education, multi-family, industrial, and healthcare.

KKR will support Potter in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership.

KKR reported a Book value per adjusted shares of $29.68, and cash and investments stood at $28 billion as of September 30, 2023.

The Potter acquisition aligns with KKR's Ascendant Strategy, targeting North American mid-market firms as part of its broader Americas Private Equity platform.

"Implementing KKR's equity ownership philosophy, which will make every employee an owner, will be instrumental in achieving our potential and we are looking forward to the exciting growth that all employees together will drive as co-owners in Potter," said Gerry Connolly, CEO of Potter.

Price Action: KKR shares traded lower by 0.59% at $68.79 on Monday.

Disclaimer: This content was partially produced with the help of AI tools and was Reviewed And Published By Benzinga Editors.