Data & Intelligence
Impact Case Study: United Envirotech Limited (UEL)
Posted On: 20 Nov 2012
In October 2011, KKR invested US$113.8 million in convertible bonds, representing 38% of share capital if fully converted.
- Company Headquarters: China
- Business focus: Construction and operation of water and wastewater treatment facilities
- Revenue: SGD85.3 million; EBITDA of SGD21.2 million (FY 2012)
By providing growth capital and operational improvements, KKR contributed to an acceleration in UEL’s growth rate from a 52% CAGR in EBITDA in the past three years to 90% year-on-year EBITDA growth in the first quarter of FY 20131¹
KKR worked with UEL to build a managerial platform for rapid growth, which included optimizing UEL’s organizational structure to focus on business development and cost reduction, establishing performance management systems for continuous operational improvement, and implementing an effective management incentive program
Through its global network, KKR also assisted UEL in securing the long-term debt financing necessary to support its expansion
UEL’s large and growing water treatment capacity represents a key component in China’s campaign to address acute water shortage and pollution challenges
¹Fiscal year ending March 31, 2013.
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Rashad Kaldany | Executive Vice-President and Growth Markets, CDPQ
David Rubenstein | Co-Founder and Managing Director, The Carlyle Group