Kroll Bond Rating Agency entered a deal with private equity firm Parthenon Capital Partners, which will acquire a majority stake in the company. KBRA is a global credit rating agency that was founded in the wake of the global financial crisis.
“When KBRA was founded, our mission was to provide the market with timely, valuable and transparent ratings and research,” Jim Nadler, CEO, president and co-founder of KBRA, said. “Over the past 11 years, KBRA has set the standard for engagement with investors, which has led to our leadership position across many markets. This investor engagement and outreach has also led to KBRA’s acceptance and reliance among issuers, policymakers and key opinion leaders. As we continue to expand both domestically and abroad, we are excited to partner with Parthenon to accelerate our future growth.”
KBRA has more than 400 employees across its five offices in the United States and Europe. The company has issued more than 51,000 ratings with nearly $3 trillion in rated issuance since its inception in 2010. KBRA provides ratings and research across all sectors from its corporate, financial and government and structured finance units. The company also delivers data, information and tools to the market through technology across its KBRA Analytics platform, including corporate and financial sector credit information and data and analytics.
“KBRA has quickly become a leading voice among the major global rating agencies. The market clearly relies on KBRA for holistic, transparent and thoughtful credit ratings and research” Zach Sadek, partner at Parthenon Capital, said.
“KBRA’s strong culture valuing integrity, ratings quality and customer service positions the firm for continued growth and success” Brian Golson, co-CEO of Parthenon Capital, said. “We look forward to partnering with KBRA’s passionate team to support their next chapter.”
Newbold Partners was Parthenon Capital’s financial advisor for this transaction and Kirkland & Ellis was its legal advisor. Gunderson Dettmer and Shearman & Sterling provided legal advice to KBRA.