KKR forms partnership with execs to build TIC platform

• Agarwal is a former senior executive of Thermo Fisher and Omega Engineering
• Silvernail is a KKR executive advisor and the former chairman and CEO of IDEX Corporation
• Agarwal will lead the platform as CEO, working closely with Mr. Silvernail, who will serve as chairman

KKR has teamed up with Amit Agarwal and Andy Silvernail to acquire and build businesses in the testing, inspection and certification industry. KKR is committing up to $250 million in funding for the new platform.

Agarwal is a former senior executive of Thermo Fisher and Omega Engineering. Silvernail is a KKR executive advisor and the former chairman and CEO of IDEX Corporation.

Agarwal will lead the platform as CEO, working closely with Silvernail, who will serve as chairman.

The platform is part of KKR’s Ascendant strategy, which invests in middle market businesses in North America as part of KKR’s Americas private equity platform.

“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,” said Brandon Brahm, partner and co-head of KKR’s Ascendant strategy, in a statement. “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.”

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions.