Mexico Privcap Video: Energy Reform Fuels Mexican Investment Opportunities
June 10, 2009
(New York, NY - June 10, 2009) Kohlberg Kravis Roberts & Co. L.P. (KKR) today announced specific environmental efforts for the five newest companies participating in the Green Portfolio Project, KKR's partnership with the Environmental Defense Fund (EDF): Accellent Inc., Biomet Inc., Dollar General Corporation, SunGard Data Systems Inc. and HCA Inc. Each of the companies have evaluated their impacts on environmental performance, identified opportunities for improvement and will implement these changes to achieve their goals for environmental sustainability. Once implemented, these changes will help managers to cost-effectively improve efficiency and reduce waste, while addressing the environmental impacts of their business.
"The first priority of our limited partners is to maximize investment returns, but most also recognize the importance of improving environmental performance. Our work with EDF and our portfolio companies is proving that environmental management can help create real value and drive the returns that help fund retirement pensions and other important needs," said Ken Mehlman of KKR.
Specific company initiatives include:Accellent is one of the largest providers of fully integrated outsourced manufacturing and engineering services to the medical device industry. Accellent's 2009 goal is to reduce greenhouse gas emissions from its facilities. To do this, Accellent is:
SunGard is one of the world's leading software and IT services companies with approximately 20,000 employees. SunGard's goal for 2009 is to improve efficiency and reduce GHG emissions from its facilities. To do this, SunGard is:
HCA is one of the leading healthcare services organizations in the United States. It is comprised of 163 hospitals and various outpatient facilities in 20 states and England. HCA is in the process of developing a strategic approach to its environmental and sustainability goals.
KKR's investment and operating executives will continue their collective efforts in working with EDF and the portfolio companies to achieve their goals.
As part of their first of its kind partnership between a private equity firm and an environmental organization, KKR and EDF have worked since May 2008 to develop and test a set of analytic tools and metrics to help companies improve in several key environmental performance areas, including greenhouse gas emissions, waste, water, forest resources and priority chemicals.
The pilot phase of the project yielded successful results for U.S. Foodservice Inc., PRIMEDIA Inc. and Sealy Corporation, which together already saved $16.4 million and prevented more than 25,000 metric tons of greenhouse gas emissions in 2008.
Throughout 2009, KKR and EDF will continue to work together to extend this program across KKR's U.S. portfolio. Already, KKR has launched a Web site that provides sample tools, best practices and case studies for cost-effectively improving environmental performance to promote action among its portfolio companies.
To drive broader change across the private equity and other industries, the tools and best practices developed through the partnership will be available through the EDF Innovation Exchange. In the fall of 2009, KKR and EDF will provide another public update on the progress of the partnership.
About Kohlberg Kravis Roberts & Co
Established in 1976, KKR is a leading global alternative asset manager. The Firm's franchise is sponsoring and managing funds that make investments in private equity, fixed income and other assets in North America, Europe, Asia and the Middle East. Throughout its history, KKR has brought a long-term investment approach, focusing on working in partnership with management teams of its portfolio companies and investing for future competitiveness and growth. Funds that KKR sponsors include traditional private equity funds, and KKR Private Equity Investors, L.P. (NYSE Euronext Amsterdam: KPE), a permanent capital fund that invests in KKR-identified investments; two credit strategy funds, KKR Financial Holdings LLC (NYSE: KFN) and the KKR Strategic Capital Funds, which make investments in debt transactions; and separately managed accounts focused on a variety of asset classes. KKR has offices in New York, Menlo Park, San Francisco, Houston, Washington D.C., London, Paris, Hong Kong, Beijing, Tokyo, Mumbai and Sydney. More information about KKR is available at: www.kkr.com
Ken Mehlman, Head of Global Public Affairs at KKR
Ken B. Mehlman joined KKR in 2008 and is Head of Global Public Affairs. Prior to joining KKR, Mr. Mehlman was a partner at Akin Gump Strauss Hauer & Feld with a bi-partisan practice in legislative and regulatory counseling. He previously served in high level positions on Capitol Hill and the White House, including as Chairman of the Republican National Committee and Campaign Manager of President Bush's successful re-election campaign. Mr. Mehlman graduated with a B.A. from Franklin & Marshall College and holds a J.D. from Harvard Law School.
Peter McKillop or Kristi Huller, KKR