Kirkland Represents KKR in $1.6 Billion Acquisition of CIRCOR International
Kirkland & Ellis is advising KKR in its definitive agreement, announced today, to acquire CIRCOR International, Inc. (NYSE: CIR), one of the world’s leading providers of mission critical flow control products and services for the Industrial and Aerospace & Defense markets, in an all cash transaction valued at approximately $1.6 billion, including the assumption of debt. Under the terms of the agreement, KKR will acquire all outstanding shares of CIRCOR common stock for $49 per share in cash, representing a 55% premium to the company’s closing stock price on June 2, 2023. The transaction is expected to close in the fourth quarter of 2023, subject to approvals and satisfaction of customary closing conditions.
The Kirkland team is led by corporate partners Jennifer Perkins, Edward J. Lee, Chelsea Darnell and Lukas Richards, along with corporate associate Steven Choi; executive compensation partners Scott Price and John Kleinjan; and debt finance partners Eric Wedel, Matthew Leist and Caroline Epstein.
