Private-equity firm Parthenon Capital Partners has agreed to buy a majority stake in Kroll Bond Rating Agency, in a rare instance of a credit-ratings firm changing hands, company officials said.
The deal, which is expected to be announced later Monday, values KBRA at $900 million including debt.
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Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in health care, financial and insurance services, and technology services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how.
Source: Wall Street Journal
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