News

Please see below for our latest news.  For additional information, please contact us at info@kelso.com.

Kelso Announces Risk Strategies Recapitalization

Kelso is pleased to announce that on February 28, 2020, we closed the equity recapitalization of Risk Strategies (“RSC”) in a transaction valued at $2.65 billion. RSC is a leading national insurance brokerage firm, focused on select specialty practices serving middle / upper-middle commercial clients and high net worth individuals.

February 28, 2020Read More

Kelso Fund X Announces Investment in Individual FoodService

Kelso is pleased to announce that on November 22, 2019, we acquired Individual FoodService (“IFS”).

November 22, 2019Read More

Kelso Fund X Announces Investment in J.S. Held

Kelso is pleased to announce that on June 3, 2019 we closed the sale of SouthernCarlson to Kyocera Corporation

July 1, 2019Read More

Kelso Fund IX Exits Investment in Sirius Computer Solutions

Kelso is pleased to announce that on July 1, 2019 we closed the sale of Sirius Computer Solutions to Clayton, Dubilier and Rice.

July 1, 2019Read More

Kelso Fund IX Exits Investment in SouthernCarlson

Kelso is pleased to announce that on June 3, 2019 we closed the sale of SouthernCarlson to Kyocera Corporation

June 3, 2019Read More

Kelso Announces the Final Closing of Fund X

Kelso is pleased to announce that we held a final closing on Fund X on May 15, 2019 with ~$2.8 billion in commitments.

May 15, 2019Read More

Kelso Fund VIII Exits Investment in Tallgrass Energy

Leawood, Kan. & New York -- (Business Wire - Jan 31, 2019) --

Tallgrass Energy, LP (NYSE: TGE) and Blackstone (NYSE: BX) today announced that affiliates of Blackstone Infrastructure Partners (“BIP”) have entered into a definitive agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of TGE’s management, to acquire 100% of the membership interests in TGE’s general partner, as well as an approximately 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion. Affiliates of GIC, Singapore’s sovereign wealth fund, will be a minority investor in the transaction.

February 5, 2019Read More

Kelso Fund IX Exits Investment in Oasis Outsourcing

Kelso is pleased to announce that on December 21, 2018, Oasis Outsourcing closed the transaction to sell the Company to Paychex, Inc.

December 21, 2018Read More

Kelso Fund IX Exits Investment in Ajax Resources

Kelso is pleased to announce that on October 31, 2018, Ajax Resources closed the sale of substantially all of its assets to Diamondback Energy.

October 31, 2018Read More

Kelso Fund X Announces Investment in Newport Group

Kelso is pleased to announce that on September 13, 2018 we acquired Newport Group.  

September 13, 2018Read More

Kelso Fund IX Announces Zenith Energy U.S.’s Acquisition of Arc Logistics

Zenith Energy U.S., L.P. (“Zenith”) today announced the completion of the previously-announced acquisition of Arc Logistics Partners LP (“Arc Logistics”) and its general partner, Arc Logistics LLC. Zenith is a U.S. midstream terminal company formed by the management and certain owners of Zenith Energy, L.P. (“Zenith International”).

March 2, 2018Read More

Kelso Fund IX Announces Sirius’ Acquisition of Forsythe

Kelso is pleased to announce that on September 27, 2017, Sirius Computer Solutions, Inc. (“Sirius”) reached a definitive agreement to acquire Forsythe Technology, Inc. ("Forsythe"). 

September 27, 2017Read More

Kelso Fund IX Announces Agreement to Acquire Plan B

Kelso is pleased to announce that on September 18, 2017, through an investment in Foundation Consumer Healthcare (“Foundation”), we signed a definitive agreement to purchase the assets of Plan B One-Step (“Plan B”) from Teva Pharmaceutical Industries Ltd. (“Teva”).

September 18, 2017Read More

Kelso Fund IX Announces Eagle’s Acquisition of Popcorn Indiana

Kelso is pleased to announce that on August 28, 2017, Eagle Foods (“Eagle”) completed the acquisition of Dale & Thomas Popcorn, LLC and Subsidiaries ("Popcorn Indiana"). 

August 28, 2017Read More

Harbor Community Bank Signs Agreement to Merge with CenterState Banks, Inc.

Kelso is pleased to announce that on August 14, 2017, Harbor Community Bank ("Harbor") signed a definitive agreement to merge with CenterState Banks, Inc.

August 18, 2017Read More

Kelso Fund IX Announces Investment in Oasis Outsourcing Holdings

Kelso is pleased to announce that on June 30, 2017, we closed an investment in Oasis Outsourcing Holdings, Inc. (“Oasis” or the “Company”) concurrent with the Company’s acquisition of Diversified Human Resources, Inc. (“DHR”) and debt refinancing.

June 30, 2017Read More

Kelso Announces Strong Follow-on Acquisition Activity Across the Fund IX Portfolio

Kelso has closed a number of follow-on acquisitions throughout our Fund IX portfolio since the Firm began investing in August 2015. A key component to the growth strategy behind many of our Fund IX portfolio companies is making accretive follow-on acquisitions, a significant lever for additional value creation. In the first 20 months of investing, our portfolio companies have made 40 follow-on acquisitions in aggregate, adding approximately $135 million in incremental EBITDA. Kelso believes there is still  a significant pipeline of attractive and actionable follow-on opportunities remaining for Fund IX. Here are a few highlights:

April 18, 2017Read More

Kelso Fund VIII Exits Investment in Sentinel Data Centers

Sentinel Data Centers Completes Sale of Two Facilities to CyrusOne

NEW YORK, NY--(Marketwired - March 01, 2017) - Sentinel Data Centers today confirmed that it has completed its previously announced $490 million sale of two facilities to CyrusOne Inc. The two multi-tenant data centers included in the transaction are located in Somerset, NJ and Durham, NC. Sentinel will retain the remainder of its portfolio, which includes single-tenant data centers in Memphis, Tennessee and Rockland County, New York as well as additional minority investments in the sector.

March 1, 2017Read More

Premia Raises $510 million In Initial Capital From Leading Investors To Target Global Property & Casualty Runoff Opportunities

HAMILTON, Bermuda--(BUSINESS WIRE)-- Premia Holdings Ltd. (“Premia” or “the Company”), a newly-formed property & casualty (“P&C”) insurance and reinsurance group focused on providing runoff solutions, announced today that it has completed a $510 million initial capital raise. The formation of Premia represents one of the largest capital raises ever focused on the P&C runoff market and immediately establishes Bermuda-based Premia as a significant market participant.

January 9, 2017Read More

Kelso Fund IX Announces Eagle’s Acquisition of Cornfields, Inc.

Kelso is pleased to announce that on August 5, 2016, Eagle Family Foods Group LLC (“Eagle”) signed a definitive agreement to acquire Cornfields, Inc. (“Cornfields” or the “Company”). Cornfields will be owned 100% by Eagle at closing.

August 5, 2016Read More

Kelso Fund IX Announces Agreement to Acquire SouthernCarlson

Kelso is pleased to announce that on June 30, 2016, we signed a definitive agreement to acquire Fastener Holdings, Inc. (“SouthernCarlson” or the “Company”).

June 30, 2016Read More

Kelso Fund IX Announces Agreement to Acquire Physicians Endoscopy

Kelso is pleased to announce that on June 30, 2016, we signed a definitive agreement to acquire Physicians Endoscopy (“PE” or the “Company”), a developer and operator of Gastroenterology ("GI") focused Ambulatory Surgery Centers ("ASCs").

June 30, 2016Read More

Kelso Announces the Final Closing of Fund IX

On May 30, 2016, Kelso held a final closing on Fund IX, with $2.56 billion in commitments. The Kelso employees and the Kelso Specialist Network together committed $625 million. The Fund will generally invest in middle-market buyouts in North America.

May 30, 2016Read More

Kelso Fund VIII Completes Sale of Helios

Kelso is pleased to announce that on January 14, 2016, we completed the sale of Helios to OptumRx, Inc., a subsidiary of UnitedHealthcare. Helios provides best-in-class management of pharmacy benefits, durable medical equipment, home health care, and other ancillary services for workers’ compensation and auto no-fault insurance companies.

January 14, 2016Read More

Kelso Fund IX Announces Agreement to Acquire Eagle Family Foods, Inc.

Kelso is pleased to announce that on November 2, 2015, we signed a definitive agreement to purchase the assets of Eagle Family Foods, Inc. (“Eagle” or the “Company”) from The J.M. Smucker Company (“Smucker”).

November 2, 2015Read More

Kelso Fund IX Announces Agreement to Acquire Risk Strategies Company

Kelso is pleased to announce that on October 7, 2015, we signed an agreement to acquire Risk Strategies Company (“RSC” or the “Company”). Management and other employees are rolling ~50% of their proceeds and will own ~20% of the pro forma equity.

October 7, 2015Read More

Kelso Fund IX Announces Agreement to Acquire Sirius Computer Solutions

Kelso is pleased to announce that on September 1, 2015, we signed a definitive agreement to acquire Sirius Computer Solutions (“Sirius” or the “Company”). The Company’s management team is rolling a significant portion of their pre-tax proceeds and will remain significant investors in the Company.

Sirius is a leading provider of data center-focused technology integration services, including product provisioning, design and implementation. Sirius combines a broad suite of hardware and software product offerings with value-added services, including systems management, cloud computing, managed services and IT asset management. The Company serves enterprise customers and partners with leading technology OEMs, including IBM, Cisco, Dell, EMC, Hitachi, HP Lenovo, NetApp, VMware and Nutanix.

September 1, 2015Read More

Kelso Fund IX Announces Agreement to Acquire Ajax Resources, LLC

Kelso is pleased to announce that on August 31, 2015, Ajax Resources, LLC (“Ajax” or the “Company”) and affiliates of Kelso & Company (“Kelso”) signed a definitive agreement to acquire the Permian Basin assets of W&T Offshore, Inc. (“W&T”).

August 31, 2015Read More

Kelso Fund IX Closes Acquisition of US LBM Holdings, LLC

Kelso is pleased to announce that on August 20, 2015, we closed the acquisition of US LBM Holdings, LLC (“US LBM” or the “Company”). BlackEagle Partners and the Company’s management team will remain investors in the Company.

August 20, 2015Read More

Kelso Fund VIII Announces Initial Public Offering of Tallgrass Energy Partners GP, LP

Kelso is pleased to announce the pricing of the initial public offering of Tallgrass Energy Partners GP, LP (“TEGP”; NYSE: TEGP) on May 6, 2015. TEGP, which owns the general partner of Tallgrass Energy Partners, LP (“TEP”; NYSE: TEP) and 20 million common units of TEP, sold 47,725,000 Class A shares at $29.00 per share, raising $1.4 billion of gross proceeds. The Class A shares began trading on the New York Stock Exchange on May 7th and closed their first day of trading at $31.75 per share, an increase of 9.5% above the IPO price.

May 6, 2015Read More

Kelso Fund VIII Completes Sale of Cronos

Kelso is pleased to announce that on January 20, 2015, we completed the sale of Cronos Ltd. (“Cronos”) to entities affiliated with Bohai Leasing Co., Ltd. (“Bohai Leasing”), a Chinese leasing conglomerate.

January 20, 2015Read More