Press Release

Kirkland & Ellis Advises Blackstone on Equity Investment in Kronos

Kirkland & Ellis LLP advised Blackstone, who along with GIC Private Limited, today announced a $750 million equity investment in Kronos Incorporated as part of a significant recapitalization of the company. Blackstone and GIC will invest in Kronos alongside lead investor Hellman & Friedman LLC and JMI Equity. Kronos, a global leader in delivering workforce management solutions, which was previously publicly traded on NASDAQ, was taken private by Hellman & Friedman and JMI Equity in 2007 in a transaction valued at approximately $1.8 billion.

The Kirkland team was led by New York corporate partners David Fox, Daniel Wolf and Leo Greenberg, debt finance partners Jay Ptashek and Eric Wedel as well as corporate associates Laura Sullivan, Andrew Glickman and Dylan Hanson.