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Funds managed by KKR, leading US private equity firm, recently entered into a definitive agreement to acquire CIRCOR International. The latter is one of the leading global suppliers of flow control products and services for the industrial, aerospace and defense sectors. The all-cash transaction is valued at approximately $1.6 billion, including debt.
The agreement provides that KKR will acquire all outstanding CIRCOR common stock at a price of $49 per share, paid in cash. This represents a 55% premium to the company’s closing stock price on June 2, 2023. The transaction has been structured to ensure a significant return for CIRCOR shareholders.