KKR has partnered with Amit Agarwal, a former senior executive of Thermo Fisher and Omega Engineering, and Andy Silvernail, KKR executive advisor and the former chairman and CEO of Idex Corp., to acquire and build businesses in the testing, inspection and certification (TIC) industry.
KKR’s ascendant strategy is committing up to $250 million in funding for the executive-led platform, which will look to invest in TIC outsourced services and instrumentation manufacturing and distribution capabilities. Agarwal will lead the platform and chief executive officer, working closely with Silvernail, who will serve as chairman.
“We look forward to working with Andy and Amit, both proven leaders and innovators, to acquire high-quality businesses and build a scaled player in the TIC industry with an integrated suite of best-in-class capabilities,” states Brandon Brahm, partner and co-head of KKR’s ascendant strategy. “Executive-led platforms are an important element of our middle-market strategy and we believe KKR’s ability to recruit world-class talent creates exciting opportunities to build great companies in attractive, but historically fragmented industries.”