KBS Announces Recapitalization Back to Press Releases

KBS Announces Recapitalization

March 25, 2024

New Investment from KKR, Ares Management and Blackrock Positions Company for Long-
Term Growth

OCEANSIDE, Calif., March 25, 2024 /PRNewswire/ — KBS, a leading privately held facility services provider in North America, announced today a recapitalization by investment funds and accounts managed by its long-time investors KKR (“KKR”), Ares Management (“Ares”) and Blackrock Capital Investment Advisors, LLC or affiliates thereof (“BlackRock”), which will become majority equity holders in the Company.

The new investment will support the Company’s ability to invest further in go-to market capabilities and the delivery of high-quality service to its customers.

Headquartered in Oceanside, California, KBS is a leading provider of technology-enabled, integrated facility management services to clients across North America. With its differentiated technology and comprehensive suite of facility services, the Company delivers high-quality and cost-effective solutions to clients in the industrial, commercial, logistics, retail, and grocery sectors.

“Having the support of KKR, Ares, and BlackRock positions KBS with unmatched strategic capacity and further enables the acceleration of value creation at scale,” said Mark Minasian, CEO of KBS.  “We look forward to working closely with these investors, leveraging their deep experience in this next phase of development, while always ensuring we continue to deliver outstanding service that raises standards and lowers costs for our clients.”

“We are pleased to support Mark and the KBS team in this recapitalization, which will position the business for its next chapter of growth,” said Lauren Krueger, a Managing Director in KKR’s credit business.

“We are excited to help provide KBS with the additional capital needed to help accelerate its growth while ensuring it continues to provide market leading service to all of its customers,” said Adam Ferrarini, a Partner in Ares’ Credit Group.

About KBS
KBS is a trusted partner to leading operations and facility managers across more than 100,000 client locations throughout North America. We provide essential facility services that deliver healthy operations to businesses through scalable solutions customized to meet client-specific requirements. Our expertise and technology enable our teams to anticipate issues, ensure quality, and maximize efficiency. With decades of experience, KBS is committed to helping clients raise standards and lower costs with the latest advances for maintaining healthy and safe operations. Visit www.kbs-services.com for more information.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.KKR.com For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2023, Ares Management Corporation’s global platform had approximately $419 billion of assets under management, with approximately 2,850 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Media Contact:
Erik Bratt
erik.bratt@kbs-services.com

SOURCE Kellermeyer Bergensons Services LLC


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This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.

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