A consortium led by Kohlberg Kravis Roberts agreed on Wednesday to buy the Samson Investment Company, one of the largest privately held energy companies in the country, for about $7.2 billion. It would be one of the biggest leveraged buyouts since the financial crisis.
Under the terms of the deal, K.K.R. and its partners will buy all Samson assets except the company's onshore Gulf Coast and offshore deep-water Gulf of Mexico facilities. Those will continue to be owned by Samson's founding Schusterman family, which is still based in Tulsa, Okla.
K.K.R. is teaming up with an eclectic group: Itochu, a Japanese conglomerate, and two other private equity firms, Natural Gas Partners and Crestview Partners.
The deal is the biggest leveraged buyout of the year, topping the $5.7 billion takeover of Kinetic Partners by Apax Partners. K.K.R. itself claimed one of the biggest leveraged deals of 2010 - the $5.3 billion acquisition of Del Monte Foods.
Article on Dealbook below: