KKR buys TMG

KKR will draw equity for the deal from KKR European Fund IV, a €3.3bn buyout vehicle that makes large-cap investments.

The GP is bringing in media entrepreneur Fred Kogel as CEO but founder Herbert Kloiber and his son will remain on the advisory board.

KKR plans to build the audiovisual content platform to refocus TMG at a time of digital disruption. It also has further acquisitions in the pipeline.

Company
TMG was founded in 1970 as a film production company, before acquiring a cinema operator and several theatres. Since then it has built up its media activities, taking an 85% stake in listed production company Odeon Film and various other production companies and TV networks. The company employs 1,800 people and expects revenues of €520m in 2019.

People
KKR - Philipp Freise (head of European TMT team).
Tele München Gruppe - Herbert Kloiber (member of advisory board); Herbert Kloiber Jr (managing director); Fred Kogel (CEO).

Advisers
Vendor - UniCredit (corporate finance); Wirsing Hass Zoller Rechtsanwälte Partnerschaft (legal); Kleeberg & Partner (tax).

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