Daily News: June 15, 2012

KKR Asset Management Provides Financing for BSN Medical Acquisition

KKR Asset Management announced that it acted as a provider of mezzanine debt financing in the acquisition by EQT VI of BSN Medical, the medical device supplier headquartered in Germany.

EQT VI announced that it has agreed to acquire medical supplies manufacturer BSN medical for an enterprise value of around €1.8 billion.

The financing package for the acquisition comprises a mezzanine tranche of €391.5 million that was provided by KKR, Highbridge Principal Strategies, J.P. Morgan Mezzanine, MezzVest and Partners Group.

Patrick de Muynck, partner at EQT Partners in Sweden, Investment Advisor to EQT VI, commented: “We are excited to partner with KKR Asset Management on this investment and for their professional support throughout the process.”

“This investment opportunity further builds our track record of partnering with prominent private equity sponsors such as EQT,” added Marc Ciancimino, head of KKR’s mezzanine business in Europe. “We have a healthy pipeline of opportunities and we look forward to putting further capital to work in Europe this year.”

KKR’s mezzanine fund, KKR Mezzanine Partners I, was closed on August 31, 2011 on over $1 billion from a diverse group of global investors, including insurers, pension plans, family offices and sovereign pools of capital.

Launched by KKR in 2004, KAM invests on behalf of its managed funds, clients and accounts across long/short equities and the corporate credit spectrum, including secured credit, bank loans and high yield securities and alternative assets.

Previously on abfjournal.com:

Partners Group Arranges Mezzanine Financing for BSN Medical, Tuesday, June 12, 2012