NEW YORK–(BUSINESS WIRE)–KKR, a leading global investment firm, today announced that it is partnering with Andrew K. “Andy” Silvernail, former Chairman and CEO of Madison Industries and IDEX Corporation, to pursue new acquisition opportunities.
Mr. Silvernail will work with KKR as Executive Advisor to evaluate investment opportunities in America across multiple sectors including industrials, healthcare and consumer staples. After acquiring a business, Mr. Silvernail will work with KKR to deliver breakthrough operational performance and implement KKR’s broad employee stock ownership plan. Mr. Silvernail will spend part of his time advising on investments for KKR Ascendant, a new strategy within KKR’s Americas private equity platform focused on investing in middle-market companies in the same sectors and themes as the broader platform.
Mr. Silvernail brings over two decades of experience leading and managing large global companies. Most recently, he was Chairman and CEO of Madison Industries, one of the world’s largest private companies. Prior to that, he was Chairman and CEO of IDEX Corporation from 2011 to 2020, where he was responsible for growing total shareholder returns in excess of 500 percent. Before joining IDEX Corporation, Mr. Silvernail held leadership positions at Rexnord Industries, Newell Rubbermaid and Danaher Corporation. He is also a member of the Board of Directors of Stryker Corporation.
“We are very pleased to welcome Andy to our firm as an executive advisor,” said Pete Stavros and Nate Taylor, co-heads of KKR’s Americas private equity platform. “With his proven track record of leadership and value creation, we are confident that Andy will be a phenomenal partner for our team as we continue our investment approach to driving holistic operational transformations across a variety of industries.”
“We have admired Andy’s work in building IDEX into a world-class industrial company and benchmark for profitability and return on investment, as well as a proving ground for some of the most talented leaders in our industry. We can’t wait to have the opportunity to work with Andy to create value on behalf of our investors,” added Josh Weisenbeck, Partner at KKR, who leads KKR’s Industrials investment team.
“I have followed KKR for many years and have always been impressed by the company’s ability to find exceptional investment opportunities and create lasting value for all stakeholders, particularly through their commitment to shared ownership and employee engagement,” said Mr. Silvernail.
Since 2011, KKR has focused on employee empowerment and engagement as key factors in building stronger businesses and driving greater financial inclusion. To date, KKR has awarded billions of dollars in total NPV to more than 45,000 non-executive employees in over 25 companies and is committed to using this model for all control investments across its American private equity platform. In April 2022, KKR joined more than 60 organizations and became a founding partner of Ownership Works, a non-profit organization formed to help public and private companies transition to shared ownership models.
KKR is a leading global investment firm providing alternative wealth management, capital markets and insurance solutions. KKR strives to generate attractive investment returns by adopting a patient and disciplined investment approach, employing world-class people, and supporting the growth of its portfolio companies and communities. KKR sponsors mutual funds that invest in private equity, credit and real assets, and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries provide retirement, life and reinsurance products under the direction of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and follow us on Twitter @KKR_Co.