{"id":727391,"date":"2023-01-31T16:30:02","date_gmt":"2023-01-31T21:30:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/"},"modified":"2023-01-31T16:30:02","modified_gmt":"2023-01-31T21:30:02","slug":"kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/","title":{"rendered":"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal<\/b><\/p>\n<p class=\"bwalignc\"><i>Commits up to $250 million to acquire and build TIC businesses<\/i><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nKKR, a leading global investment firm, today announced a strategic partnership with Amit Agarwal, a former senior executive of Thermo Fisher and Omega Engineering, and Andy Silvernail, KKR Executive Advisor and the former Chairman and CEO of IDEX Corporation, to acquire and build businesses in the Testing, Inspection, and Certification (\u201cTIC\u201d) industry.\n<\/p>\n<p>\nKKR\u2019s Ascendant strategy is committing up to $250 million in funding for the new executive-led platform, which will have a flexible mandate to invest in leading TIC outsourced services and instrumentation manufacturing and distribution capabilities for attractive end-markets. Mr. Agarwal will lead the platform as Chief Executive Officer, working closely with Mr. Silvernail, who will serve as Chairman.\n<\/p>\n<p>\n\u201cI am thrilled to collaborate with Andy and the KKR team to find, acquire and develop attractive businesses in the TIC industry, which is a more than $330 billion global market across instrumentation and services,\u201d said Mr. Agarwal.<sup>1<\/sup> \u201cWe believe our experience growing highly innovative and technical businesses positions us as a value-add strategic partner to TIC companies that provide specialized tools and services for sectors benefiting from attractive long-term tailwinds. I\u2019m particularly encouraged by KKR\u2019s approach to creating lasting value through shared ownership and employee engagement, which resonates with my approach to leadership.\u201d\n<\/p>\n<p>\nMr. Silvernail, Mr. Agarwal and KKR plan to build a scaled TIC platform through multiple acquisitions and driving breakthrough operating performance. \u201cI am excited to work together with Amit to build a leading business in the TIC industry. This is an attractive space, benefiting from mission critical products and services, favorable long-term growth trends and a fragmented market structure across both instrumentation and services,\u201d said Mr. Silvernail.\n<\/p>\n<p>\nThe platform is part of KKR\u2019s Ascendant strategy, which invests in middle market businesses in North America as part of KKR\u2019s Americas Private Equity platform. KKR Ascendant pursues investments across seven dedicated industry vertical teams and seeks to deploy the full resources of KKR to support management teams in growing market-leading businesses.\n<\/p>\n<p>\n\u201cWe look forward to working with Andy and Amit, both proven leaders and innovators, to acquire high quality businesses and build a scaled player in the TIC industry with an integrated suite of best-in-class capabilities,\u201d said Brandon Brahm, Partner and Co-Head of KKR\u2019s Ascendant strategy. \u201cExecutive-led platforms are an important element of our middle-market strategy and we believe KKR\u2019s ability to recruit world-class talent creates exciting opportunities to build great companies in attractive, but historically fragmented industries.\u201d\n<\/p>\n<p>\nAfter completing a foundational acquisition, the platform intends to implement KKR\u2019s broad-based employee engagement model to make all employees shared owners of the business. Since 2011, KKR has focused on employee engagement and ownership as a key driver in building stronger companies and driving greater financial inclusion. To date, KKR portfolio companies have awarded billions of dollars of total equity value to over 50,000 non-senior employees across nearly 30 companies, and KKR has committed to deploying this model in all control investments across its entire Americas Private Equity platform.\n<\/p>\n<p><b>About Andy Silvernail<\/b><\/p>\n<p>\nMr. Silvernail brings over two decades of experience leading and managing large global companies and he became an Executive Advisor at KKR in 2022. He previously served as Chairman and CEO of Madison Industries, one of the world\u2019s largest privately held companies and before that was Chairman and CEO of IDEX Corporation (NYSE:IEX) from 2011 to 2020. Mr. Silvernail has also held executive positions at Rexnord Industries, Newell Rubbermaid and Danaher Corporation. He currently serves on the Board of Directors of Stryker Corporation.\n<\/p>\n<p><b>About Amit Agarwal<\/b><\/p>\n<p>\nMr. Agarwal has over two decades of experience at Thermo Fisher Scientific, Inc. (\u201cThermo Fisher\u201d) (NYSE:TMO), most recently serving as Vice President of the company\u2019s Water &amp; Lab Products division. He joined Thermo Fisher in 1997 and over his career had held various senior leadership roles globally, including leading the company\u2019s Australia \/ New Zealand business, Laboratory Solutions India, and Cole-Parmer. In 2020, Mr. Agarwal joined OMEGA Engineering, previously a division of Spectris plc (LSE:SXS) as President and CEO. In this role, he developed and implemented a strategy focused on introducing innovative products and establishing leadership in chosen applications for high-growth segments. Mr. Agarwal currently serves as a Trustee on the Board of Spectris Foundation, a STEM-focused charity based out of the U.K.\n<\/p>\n<p><b>About KKR<\/b><\/p>\n<p>\nKKR 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\u2019s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR\u2019s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR &amp; Co. Inc. (NYSE: KKR), please visit KKR\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kkr.com&amp;esheet=53294600&amp;newsitemid=20230131005934&amp;lan=en-US&amp;anchor=www.kkr.com&amp;index=1&amp;md5=33b4a97da23145eaf0c85d278e2f234b\">www.kkr.com<\/a> and on Twitter @KKR_Co.\n<\/p>\n<p><sup>1<\/sup> Testing, Inspection, and Certification Market Size in 2021 according to Straits Research (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.globenewswire.com%2Fen%2Fnews-release%2F2022%2F08%2F24%2F2504121%2F0%2Fen%2FTesting-Inspection-and-Certification-Market-Size-is-projected-to-reach-USD-457-Billion-by-2030-growing-at-a-CAGR-of-4-Straits-Research.html&amp;esheet=53294600&amp;newsitemid=20230131005934&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.globenewswire.com%2Fen%2Fnews-release%2F2022%2F08%2F24%2F2504121%2F0%2Fen%2FTesting-Inspection-and-Certification-Market-Size-is-projected-to-reach-USD-457-Billion-by-2030-growing-at-a-CAGR-of-4-Straits-Research.html&amp;index=2&amp;md5=66e2eeaa120720e3497f4f6049eb84d8\">https:\/\/www.globenewswire.com\/en\/news-release\/2022\/08\/24\/2504121\/0\/en\/Testing-Inspection-and-Certification-Market-Size-is-projected-to-reach-USD-457-Billion-by-2030-growing-at-a-CAGR-of-4-Straits-Research.html<\/a>)\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230131005934r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230131005934\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230131005934\/en\/<\/a><\/span><\/p>\n<p><b>Media:<br \/>\n<\/b><br \/>Miles Radcliffe-Trenner<br \/>\n<br \/>212-750-8300<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:media@kkr.com\">media@kkr.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Finance Consulting Engineering Other Technology Professional Services Manufacturing Asset Management Science Other Science<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230131005934\/en\/802367\/3\/kkrlogo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal Commits up to $250 million to acquire and build TIC businesses NEW YORK&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, today announced a strategic partnership with Amit Agarwal, a former senior executive of Thermo Fisher and Omega Engineering, and Andy Silvernail, KKR Executive Advisor and the former Chairman and CEO of IDEX Corporation, to acquire and build businesses in the Testing, Inspection, and Certification (\u201cTIC\u201d) industry. KKR\u2019s Ascendant strategy is committing up to $250 million in funding for the new executive-led platform, which will have a flexible mandate to invest in leading TIC outsourced services and instrumentation manufacturing and distribution capabilities &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-727391","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal Commits up to $250 million to acquire and build TIC businesses NEW YORK&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, today announced a strategic partnership with Amit Agarwal, a former senior executive of Thermo Fisher and Omega Engineering, and Andy Silvernail, KKR Executive Advisor and the former Chairman and CEO of IDEX Corporation, to acquire and build businesses in the Testing, Inspection, and Certification (\u201cTIC\u201d) industry. KKR\u2019s Ascendant strategy is committing up to $250 million in funding for the new executive-led platform, which will have a flexible mandate to invest in leading TIC outsourced services and instrumentation manufacturing and distribution capabilities &hellip; Continue reading &quot;KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-31T21:30:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230131005934r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal\",\"datePublished\":\"2023-01-31T21:30:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\\\/\"},\"wordCount\":955,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230131005934r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\\\/\",\"name\":\"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal - 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KKR\u2019s Ascendant strategy is committing up to $250 million in funding for the new executive-led platform, which will have a flexible mandate to invest in leading TIC outsourced services and instrumentation manufacturing and distribution capabilities &hellip; Continue reading \"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/","og_site_name":"Market Newsdesk","article_published_time":"2023-01-31T21:30:02+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230131005934r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal","datePublished":"2023-01-31T21:30:02+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/"},"wordCount":955,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230131005934r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-pursue-opportunities-in-the-testing-inspection-and-certification-industry-in-collaboration-with-andy-silvernail-and-amit-agarwal\/","name":"KKR to Pursue Opportunities in the Testing, Inspection, and Certification Industry in Collaboration with Andy Silvernail and Amit Agarwal - 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