MPE Partners sells Bettcher to KKR

KKR has acquired Bettcher Industries from MPE Partners.

KKR has acquired Bettcher Industries from MPE Partners. No financial terms were disclosed. Based in Birmingham, Ohio, Bettcher is a maker of equipment in the food processing and medical device industries.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Bettcher Industries (“Bettcher” or the “Company”), a leading manufacturer and supplier of food processing equipment and associated aftermarket parts and consumables, and KKR, a leading global investment firm, today announced the completion of KKR’s acquisition of Bettcher from MPE Partners.

Effective upon the transaction close, Dan Daniel, a KKR Executive Advisor, will assume the role of Chairman of Bettcher. Mr. Daniel will support Tim Swanson, CEO of Bettcher, in setting the strategic direction of the company and in overseeing Bettcher’s operating performance.

“Bettcher is a great business and an iconic brand, and I am honored to support the Company in its growth ambitions from here,” said Mr. Daniel. “Through continued growth and accretive acquisitions, we can together build Bettcher into a scaled leader in food processing automation equipment and I look forward to working alongside the Bettcher management team and KKR to do exactly that,” said Mr. Daniel.

Mr. Daniel has three decades of experience leading U.S. industrial companies, most recently serving as an Executive Vice President at Danaher from 2008 through March 2020. During his 14 years as an Executive Officer at Danaher, Mr. Daniel directly managed Danaher’s Industrial Technologies and Life Sciences portfolios until 2017, and, from 2017 until his retirement in March 2020, directly managed the company’s Diagnostics and Dental segments.

“I am excited to be partnering with KKR and Dan as they share our vision at Bettcher of driving continued innovation while providing outstanding support to our customers. Together, we will be able to build upon Bettcher’s legacy to partner with our customers in new and expanded ways,” said Mr. Swanson.

KKR will also be supporting Bettcher in implementing KKR’s broad-based employee engagement model at the Company. Since 2011, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The strategy’s cornerstone has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return alongside KKR. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas and by partnering with the workforce to give back to the community.

About Bettcher Industries
Headquartered in Birmingham, Ohio, Bettcher is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds.