It is possible that other similar deals may follow.
Private equity gets involved
Author: ross sturley CIMCIG
Private equity group Kohlberg Kravis Roberts & Co has agreed to buy John Laing for £2bn, while HIG Capital agrees to buy Travis Perkins' plumbing division.
The interesting John Laing deal shows the attractiveness of infrastructure focussed businesses post-pandemic. The deal will take the listed firm private.
KKR will, it is understood, provide long-term capital and global expertise to accelerate John Laing’s strategy, leading to more growth than might otherwise have been the case.
Meanwhile, Travis Perkins has agreed to sell its plumbing and heating business to another private equity group for £325m. The deal with HIG Capital for the £1bn revenue P&H operation is expected to be finalised within the next three months.