Blackstone in Talks to Buy Kinetic (Wall Street Journal)
Blackstone Group is in talks to buy Kinetic Concepts Inc., a wound-care and hospital bed provider, in a deal that could be worth about $5 billion, making it one of the largest leveraged buyouts since the financial crisis, according to a person close to the matter.
It isn't clear how close Blackstone is to a deal for Kinetic. Kohlberg Kravis Roberts & Co. and other parties also have examined a possible purchase in recent weeks, according to people familiar with the matter, but it's not clear how close those firms are to any offer. A spokesman for Kinetic declined to comment.
Many private-equity firms have shied away from big acquisitions over the past six months, partly because these firms haven't been able to compete with deep-pocketed corporations.
But Blackstone is beginning to invest cash from a new buyout fund that recently reached $16 billion, making it one of the largest such funds on record.
The launch of Blackstone's fund gives it heft to make blockbuster deals, while also putting pressure on the firm to begin investing some of that money.
KKR, along with several partners, spent nearly $4 billion in ...
