KKR, a leading global investment firm, today announced it is joining with William K. "Dan" Daniel, formerly a senior executive at Danaher Corporation ("Danaher"), to pursue opportunities to acquire an industrial business headquartered in the United States.
Once a company has been acquired, Mr. Daniel, alongside KKR, will work together to drive breakthrough operating performance and growth while also implementing the employee engagement model KKR has developed and utilized over the past decade with its industrials portfolio companies.
Mr. Daniel has three decades of experience leading U.S. industrial companies and most recently served 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. The Dental segment was spun-off into Envista Holdings in 2019. In addition to these responsibilities, Mr. Daniel had an instrumental role in evolving the company’s culture, as well as serving as the executive sponsor of Danaher’s Diversity & Inclusion Council since its formation.
"I am excited to partner with KKR to acquire, improve and build a world class business over the long term. We share similar philosophies around value creation and the critical importance of culture and talent. I am particularly enthusiastic about the broad-based ownership model that KKR’s Industrials Team has successfully deployed numerous times," said Mr. Daniel.
Over the last ten years, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger companies. The centerpiece of the strategy has been to make all employees owners in the business by granting them the opportunity to participate in the equity return directly alongside KKR. Through these programs, over 25,000 employees have become owners and more than $1 billion of equity has been allocated to them. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas, driving improvements in worker safety and by supporting a company’s involvement in the community.
"Teaming up with such a highly talented executive like Dan is a wonderful opportunity for us and we see tremendous potential to add value together. Dan is a proven leader with a track record that speaks for itself," said Pete Stavros, KKR Partner and Co-Head of Private Equity in the Americas. "We are excited to deploy our model behind Dan and to create long-term value for all stakeholders in a business."
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
Kristi Huller or Miles Radcliffe-Trenner