KKR Acquisition of Bettcher Industries, Inc. Complete

Bettcher Industries Inc. (Bettcher Industries), a leading manufacturer and supplier of food processing equipment and associated aftermarket parts and services, announced today that its acquisition by KKR, a leading global private equity firm, is complete.

KKR announced its intention to acquire 100 percent of Bettcher Industries from Morgenthaler Private Equity in November of this year. The deal officially closed this week. Bettcher Industries is now part of KKR’s portfolio of industrial companies.

“We are thrilled to officially be part of the KKR team, and we can’t wait to combine our resources to continue building upon our legacy and leadership in the food processing equipment industry,” said Tim Swanson, who retains his role as CEO, Bettcher Industries. “Being part of KKR provides us access to expertise and a global reach that will accelerate the growth of our existing business, while also innovating to support an evolving customer base — all in the service of being able to better fulfill our mission of helping our customers feed the world.”

The acquisition includes all the following divisions within the Bettcher Industries portfolio of innovative and industry-leading products meant to improve customer yield, while enhancing worker safety and comfort:

• Tooling Business:
  • Bettcher, a global leader in handheld trimmers, tools and cutting consumables.

• Process Solutions Group:
  • Cantrell-Gainco, a manufacturer of processing equipment, yield enhancement and yield tracking systems for meat, poultry and fish operations.
  • ICB Greenline, an aftermarket replacement parts and service company.

• Medical Device Business:
  • Exsurco Medical, a medical device company that provides innovative products and services for surgical grafting and debridement.

About Bettcher Industries, Inc.

Headquartered in Birmingham, Ohio, Bettcher Industries, Inc. is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and service company focused on poultry processing; and Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005130/en/