Kohlberg Kravis Roberts & Co. sold Duales System Deutschland GmbH to the company’s management that had support from U.K. private equity shop Solidus. Duales System is a waste manager based in German. Financial terms were not disclosed, but a person close to the company told Reuters the price was a low three-digit million euros sum.
(Reuters) – Kohlberg Kravis Roberts (KKR) (KKR.N: Quote, Profile, Research, Stock Buzz) sold German recycling group Duales System Deutschland (DSD) to DSD’s managers, backed by British private equity group Solidus, according to DSD.
Neither DSD nor KKR said how much Solidus and DSD’s managers paid for the business, but a person close to the company told Reuters the price was a low three-digit million euros sum.
“We see considerable potential for DSD, not only in Germany,” Solidus head Philippe von Stauffenberg said in a statement on Thursday.
The deal will close within the coming weeks, DSD said. KKR had bought DSD, a former non-profit organisation that had 2009 sales of 684 million euros ($943 million), almost six years ago. (Reporting by Maria Sheahan and Alexander Huebner; Editing by David Holmes) ($1=.7253 Euro)