KKR Injects Additional Capital to Support Joulon’s Asset Management Platform
December 12 2017 - 8:15PM
Business Wire
Capital injection enhances Joulon’s acquisition
activity
Joulon completes acquisition of global
engineering and project management company Harris Pye
Joulon (the “Company”), a leading asset management services
provider to the energy industry, today announced that KKR has
injected additional capital to support the Company’s ongoing
acquisition activity. With KKR’s continued support, Joulon has
completed its acquisition of Harris Pye Engineering Group Limited
(“Harris Pye”), a global provider of engineering and project
management services to the marine, offshore and industrial
sectors.
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Joulon’s platform provides comprehensive Asset Management
services to the energy industry. The Company’s business model is
based on acquiring businesses with established track records and
complementary global expertise in maintenance, repair and overhaul
(“MRO”) services to the oil and gas industry. By combining and
enhancing these companies’ expertise and synergies, Joulon is able
to offer truly integrated solutions to customers in the global
energy industry.
Harris Pye is the latest addition to Joulon’s platform of
well-established, global companies in the energy services and
manufacturing segment. Since Joulon’s launch 18 months ago, the
Company has completed 11 acquisitions, including: OES, Global One,
Sara Sae, DSL, Excel Marco, JVS, CPC, Aggrego, STS, Thanh Ngoc, RAM
Design and DronePro.
Ashish Shastry, Member and Head of Southeast Asia at KKR, said:
“KKR is very pleased with Joulon’s progress in building a unique
franchise that puts customers first by providing a high quality one
stop solution to meet their global asset management needs in the
fast moving energy industry. We look forward to building on
Joulon’s success to date by deploying further capital into Joulon
and helping the Company continue to grow, enhance its service
offering and support its customers.”
Founders, Deepak Munganahalli, Chairman of Joulon and Abhishek
Kumar, Vice Chairman and Group CEO of Joulon, said: “We are
grateful to Joulon’s customers for their continued support and
guidance. With a growing workforce of more than 2500 people and 50
workshops and offices worldwide, Joulon aims to be the global
partner of choice for leading energy industry companies. With the
continued partnership with KKR, Joulon is even better positioned to
execute its growth strategy to develop a leading global energy
services platform to address the specific requirements of asset
owners and operators.”
The Project Management and Execution segment has become
increasingly important given the impact the category has on
customers’ total cost of ownership of assets. Joulon is committed
to solving Project Management and Execution challenges for its
customers and its latest acquisition of Harris Pye, further
deepens the Company’s offerings across key verticals. Joulon will
continue to acquire businesses and enhance its Project Management
and Execution capabilities to assist customers as they undertake
reactivation and modification projects in the
coming years.
The investment in Joulon comes from multiple funds managed or
advised by KKR. Further details of KKR’s investment and Joulon’s
acquisition of Harris Pye were not disclosed.
About Joulon
Joulon offers comprehensive asset management services to the
energy industry through its portfolio of established manufacturers
and service providers, complemented by a global team of experts
with decades of asset ownership and management experience. The
platform provides a complete range of offerings from individual
products and services to integrated end-to-end asset management
solutions. Joulon employs the industry’s latest technologies and
processes to provide the entire suite of solutions to customers as
they continuously look to improve the efficiency of their asset
ownership and operations. For additional information, please visit
www.joulon.com.
About KKR
KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate, credit and, through its strategic
manager partnerships, hedge funds. KKR aims to generate attractive
investment returns 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 its partners' capital 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. L.P. (NYSE:KKR), please visit KKR's
website at www.kkr.com and on Twitter @KKR_Co.
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Anita Davis, +852 3602 7335Anita.Davis@KKR.comorSard Verbinnen
& CoRick Carew/Miles Radcliffe-Trenner, +852 3899
6630KKR-SVC@sardverb.com