Leading global investment firm KKR recently announced that investment funds managed by KKR have acquired Potter Global Technologies, a leading fire and life safety equipment manufacturer, from Gryphon Investors. KKR is planning to support the company in its continued growth organically and through add-on acquisitions. The financial terms were not disclosed.
Based in St. Louis, Missouri, Potter is a trusted global provider of fire safety and emergency communication equipment used by thousands of customers across diverse end markets, including education, multi-family, industrial, and healthcare. Potter’s leading products are used to monitor fire safety systems, detect fires and other life-threatening events, and notify and communicate with building occupants and first responders to ensure safe and efficient evacuations and responses.
KKR is going to support Potter in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the company. And this strategy is based on the belief that employee engagement is a critical driver in building more vital companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across over 35 portfolio companies.
Potter is the latest investment for KKR’s Ascendant Strategy, which invests in middle-market businesses in North America as part of KKR’s Americas Private Equity platform. Other investments in the Ascendant strategy include Alchemer, 123Dentist, Industrial Physics, and a commitment to fund a new executive-led platform designed to acquire and build businesses in the Testing, Inspection, and Certification industry.
Baird and Baker McKenzie served as advisors to KKR.
KEY QUOTES:
“For over 125 years, the Potter brand has stood for safety and reliability in the face of potentially life-threatening risks to the thousands of people and institutions around the world who entrust their fire and life safety to Potter. We have been impressed by the Company’s history of innovation and commitment to provide its customers with high-quality, easy-to-use systems supported by incredible customer service. We look forward to collaborating with Gerry Connolly, the leadership team, and all of the employees at Potter as we embark on this new era in the Company’s growth and develop new ways to serve our customers and protect lives.”
- Brandon Brahm, Partner at KKR and Co-Head of KKR’s Ascendant strategy
“Potter’s growth is a testament to the performance of our talented team and to our reputation as a leader in the fire and life safety industry. Our mission to protect people, buildings, and critical infrastructure across the globe underpins everything we do, and we are excited to continue furthering this mission with KKR. We are aligned on Potter’s potential and look forward to continue serving our customers through accelerated new product innovation, superior customer service, and an expanded reach domestically and internationally. Implementing KKR’s equity ownership philosophy, which will make every employee an owner, will be instrumental in achieving our potential and we are looking forward to the exciting growth that all employees together will drive as co-owners in Potter.”
- Gerry Connolly, CEO of Potter
