Ownership

Bis Industries has been a portfolio company of Kohlberg Kravis Roberts & Co (KKR) since June 2006.

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.

On July 20, 2017, Bis announced that its key stakeholders had reached an agreement in principle to recapitalise and significantly de-leverage the company’s balance sheet, positioning Bis for a strong future.
 
The major parties to the negotiation – Bis, KKR and certain senior lender and PIK noteholder representatives – have agreed to a debt to equity conversion by way of schemes of arrangement that, subject to receipt of necessary approvals, will result in senior lenders and PIK noteholders assuming ownership of the Bis operating entities.
 
The senior lending group includes Carlyle Strategic Partners IV, Metrics Credit Partners, Värde Partners and others, bringing deep international experience and capability to Bis.
 
The restructure of Bis Industries is likely to be completed in the 4th quarter of 2017.

See the company announcement for more details.