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KKR to acquire majority stake in Optiv Security

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KKR to acquire majority stake in Optiv Security

KKR & Co. LP agreed to acquire a majority stake in Optiv Security from a group of private investors, including a private equity fund managed by Blackstone Group LP.

Optiv is a provider of end-to-end cyber security solutions. Bloomberg News reported in April that the company was planning an IPO that could come in the second half of 2016.

Financial terms of the deal were not disclosed.

Blackstone will maintain a minority interest in Optiv along with the latter's management. Other selling shareholders include Investcorp and Sverica.

KKR is primarily making the investment from its 11th Americas Private Equity investment fund. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2017.

Goldman Sachs & Co. and Morgan Stanley & Co. LLC served as financial advisers to Optiv in the transaction. Kirkland & Ellis LLP served as legal adviser to KKR, while Jefferies LLC acted as its financial adviser. Simpson Thacher & Bartlett LLP served as legal adviser to Optiv and Blackstone.