Global investment firm Kohlberg Kravis Roberts & Co. L.P., has agreed to acquire Capital Safety, a global provider of fall protection equipment, from Arle Capital Partners, for $1.12bn.
Financing for the transaction, which is still subject to customary closing conditions, including regulatory approval, will be provided by UBS Investment Bank, Morgan Stanley Senior Funding, Inc., and KKR Capital Markets, an affiliate of KKR, in the form of senior secured credit facilities.
KKR Capital Markets also arranged financing in the form of senior unsecured notes with Crescent Capital Group.
Founded in 1938, Capital Safety designs and produces fall protection equipment (FPE) solutions for workers at height. Its products include harnesses, lanyards, self-retracting lifelines and engineered systems, which are sold through the globally recognized brands DBI-SALA, PROTECTA and UNILINE.
The closing of the transaction is expected to be in January, 2012.