KKR has acquired S&P Global‘s Engineering Solutions business for $975 million in cash, subject to customary purchase price adjustments.
Engineering Solutions provides data, technology and insights that help over 6,000 global customers and 650,000 users optimize work flows and end-user experiences. S&P Global currently anticipates the divestiture to result in after-tax proceeds of approximately $750 million. Proceeds are expected to be used to fund share repurchases. The agreement follows S&P Global’s intent to divest the business. KKR is making the investment through its North America Fund XIII.
“Engineering Solutions is trusted by engineers and standards organizations around the world and we look forward to deepening these relationships by making long-term investments in enhanced product coverage, improved workflow solutions and expanded distribution capabilities,” says Webster Chua, partner at KKR.