KKR Partners Up with Danaher Executive

KKR has partnered with William “Dan” Daniel to seek and acquire industrial business headquartered in the United States.

Mr. Daniel was the executive vice president of Danaher from 2008 through March 2020. Danaher designs, manufactures and markets professional, medical, industrial, and commercial products and services used in the life sciences, diagnostics, and environmental sectors. The Washington, DC-based company has more than 70,000 employees and revenues last year exceeded $17 billion.

While at Danaher, Mr. Daniel directly managed the company’s industrial technologies and life sciences portfolios until 2017 and from 2017 until his March 2020 retirement he directly managed the company’s diagnostics and dental segments.  Danaher’s dental segment – which is active with dental implants, orthodontics, dental equipment, and consumables – was spun off as Envista (NYSE: NVST) in 2019.

“I am excited to partner with KKR to acquire, improve and build a world-class business over the long term,” said Mr. Daniel. “We share similar philosophies around value creation and the critical importance of culture and talent. I am particularly enthusiastic about the broad-based ownership model that KKR’s industrials team has successfully deployed numerous times.”

“Teaming up with such a highly-talented executive like Dan is a wonderful opportunity for us and we see tremendous potential to add value together. Dan is a proven leader with a track record that speaks for itself,” said Pete Stavros, a partner at KKR and co-head of private equity in the Americas. “We are excited to deploy our model behind Dan and to create long-term value for all stakeholders in a business.”

KKR (NYSE: KKR) makes private equity, fixed income, and other investments in companies in North America, Europe, Asia, and the Middle East. KKR was founded in 1976 and in addition to its New York headquarters has offices in 19 cities around the world.

Private Equity Professional | July 9, 2020

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