Arcline To Buy Novaria Group From KKR For $2.2 Bln

(RTTNews) - KKR & Co. Inc. (KKR), an investment firm, on Monday announced that Arcline Investment Management LP has entered into a definitive agreement to acquire a provider of engineered aerospace components, Novaria Group LLC, for $2.2 billion.

The transaction is subject to regulatory approvals and other customary closing conditions.

The company said that, since KKR's initial investment in 2020, Novaria has tripled in size, completing 13 strategic add-on acquisitions, expanding its product portfolio, and strengthening its U.S. manufacturing footprint.

The company now serves more than 3,000 customers worldwide and employs over 1,600 people across the U.S.

As part of Novaria's employee ownership program, all employees will receive cash payouts upon closing of the transaction.

In the pre-market trading, KKR is 1.38% higher at $123 on the New York Stock Exchange.