KKR acquires Integer Holdings for $127/share

Integer Holdings Corporation Corporation, a leading global medical device contract development and manufacturing organization (CDMO), announced on August 3, 2026, that it has entered into a definitive agreement to be acquired by an affiliate of investment funds managed by KKR & Co. in an all-cash transaction valued at an enterprise value of approximately $5.7 billion. Under the terms, Integer stockholders will receive $127 per share, representing a premium of approximately 51.8% to the closing price on April 29, 2026, the day before the company announced a strategic review, and 28.8% to the 30-day VWAP as of July 31, 2026. The transaction follows a comprehensive strategic review announced on April 30, 2026. Integer's Board of Directors unanimously approved the agreement and recommends stockholders vote in favor. The acquisition is not subject to a financing contingency; KKR will finance it through equity from its managed funds and committed debt financing. Upon completion, Integer will become a privately held company and its shares will no longer be listed on the New York Stock Exchange. KKR intends to establish a broad-based employee ownership and engagement program. The transaction is expected to close by the end of 2026, subject to stockholder approval and regulatory clearances. Integer has withdrawn its previously issued financial outlook and canceled its earnings call. Advisors include Goldman Sachs and Davis Polk for Integer; Centerview Partners, Barclays, Citi, Raymond James Financial, and Kirkland & Ellis for KKR; and Citi, KKR — KKR Capital Markets, Barclays, UBS, and Jefferies as lead arrangers for debt financing.