Leading investment company Kohlberg Kravis Roberts & Co (KKR) signed a definitive agreement to acquire RigNet Inc. Cubera, an investment company active in the Nordic private equity markets, owns RigNet Inc. Once the deal is completed, KKR would own 4.75 million shares in RigNet. KKR would then hold a 27% share in the company and would become its largest stakeholder.
RigNet provides remote communications solutions, collaborative applications and systems integration to the energy sector. Some of the services it provides include voice and data networks. It also gives real-time data services as well as video conferencing to its clients. RigNet currently serves more than 1,100 remote sites around the world.
KKR's Head of Europe Johannes Huth said, "We are investing in a fast-growing global market leader that has created an attractive niche at the intersection of three of our core investment themes: energy, technology, and services. All three sectors exhibit structural growth well ahead of broader GDP trends. We are excited about this addition to our investment portfolio and we look forward to supporting RigNet's growth strategy as a patient and constructive shareholder."
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