KSTW Acquisitions Inc announced the start of the tender offer for all shares of Steinway Musical Instruments, Inc. Under the terms of the merger, the tender offer represents the majority of the shares of Steinway's common stock and rights agreement. Upon completion of the tender offer, KSTW Acquisition, Inc will merge with Steinway Musical Instruments, Inc. KSTW is an affiliate of Kohlberg & Company LLC.
Steinway Musical Instruments, Inc., is the global leader in the designing, manufacturing, marketing and distribution of high quality musical instruments. Products under the Steinway label include the Selmer Paris saxophones, the Ludwig snare drums, the Bach Stradivarius trumpets, the C.G. Conn French horns, the King trombones, the Leblanc clarinets, and the Steinway & Sons pianos.
Kohlberg & Company, L.L.C. is a leading private equity firm with headquarters in Mount Kisco, New York. Founded in 1987, Kohlberg has completed more than 100 add-on acquisitions, and has established over 60 platform investments. Total transaction values are estimated to be worth US$9 billion.
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