KKR Agrees To Sell GeoStabilization International To Leonard Green & Partners

(RTTNews) - KKR Thursday announced an agreement to sell GeoStabilization International to Leonard Green & Partners, L.P.

GeoStabilization is a provider of geohazard mitigation solutions and roadway safety services.

"It has been an honor working alongside Dominic, the management team, and GSI's many talented employees to build on the Company's strong legacy of serving customers and driving innovation. Through our strategic partnership we have expanded the Company's reach, added service capabilities, and delivered on our mission to protect the public from the dangers of geohazards - all while investing significantly in GSI's employees and our communities," said Brandon Brahm, Partner at KKR and Co-Head of KKR's Ascendant Strategy.

"This transaction is a testament to our years of collaboration with KKR and also reflects the dedication and hard work of the entire GSI team. KKR catalyzed our all-employee ownership program, developing an ownership culture that has made us even stronger. We are very proud that all GSI colleagues will share in this fantastic outcome," said Dominic Ivankovich, CEO of GSI.

As a result of GeoStabilization's all employee ownership program, all of the company's more than 900 employees will receive cash payouts upon closing of the transaction.