Kirkland Advises KKR on Financing for Acquisition of Smart Metering Systems

Kirkland & Ellis is advising Sienna Bidco Limited, a newly formed company owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. (KKR) and its affiliates, on the debt financing for its recommended all cash acquisition of the entire issued, and to be issued, ordinary share capital of Smart Metering Systems plc (SMS). The acquisition values the entire issued, and to be issued, ordinary share capital of SMS at approximately £1.3 billion on a fully diluted basis, and this implies an enterprise value of approximately £1.4 billion.

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The Kirkland team is being led by debt finance partners Sinead O'Shea and Jia Meng and associates Toni Prskalo and Preston Loh.