KKR North America Fund XIII SCSp managed by KKR & Co. Inc. (NYSE:KKR) entered into a securities and asset purchase agreement to acquire Engineering Solutions Business from IHS Markit Ltd. for approximately $980 million on January 14, 2023. The consideration which will be paid in cash is subject to customary purchase price adjustments. Engineering Solutions Business reported revenues of $33 million and operating profit of $1 million for year ended 2022. The transaction, which is subject to receipt of required regulatory approvals, completion of certain portions of the pre-closing restructuring and satisfying other customary closing conditions, is expected to close by the end of the second quarter of 2023. As of April 27, 2023, the transaction is expected to close on May 2, 2023. The after-tax proceeds of approximately $750 million are expected to be used to fund share repurchases.

Goldman Sachs & Co. LLC acted as financial advisor, and Jeffrey A. Brill, Stephen F. Arcano, Niels Baeten, Alec J. Jarvis, Matthew H. Nemeroff, David M. Rievman, Erica Schohn, David P. Wales and Andrew D. Woodard of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to S&P Global, parent of IHS. RBC Capital Markets acted as financial advisor to KKR, and Marni Lerner, Naveed Anwar, David Rubinsky, Nancy Mehlman, William Smolinski, Sarah Lindley, Jessica Cohen, Adam Shapiro, Catherine Burns, Toby Chun, Peter Guryan, Kelly Karapetyan, Deepa Sarkar, Steve DeLott and Krista McManus of Simpson Thacher & Bartlett LLP acted as legal advisor to KKR. Melanie Howard of Baker & Mckenzie acted as legal advisor to S&P Global. William Vivian John, Ajinkya Gunjan Mishra and Sumit Bansal of S&R Associates acted as legal advisor to IHS Markit Ltd.

KKR North America Fund XIII SCSp managed by KKR & Co. Inc. (NYSE:KKR) completed the acquisition of Engineering Solutions Business from IHS Markit Ltd. on May 2, 2023. The transaction will also include local closings in certain jurisdictions, which are expected to occur during the balance of 2023. In the future, the Engineering Solutions business will operate as an independent company by the name of Accuris. CastleOak Securities, L.P. acted as financial advisor to KKR & Co. Inc. Darshika Kothari and Vasudha Asher of AZB & Partners acted as legal advisor to KKR & Co. Inc.