KKR to take Integer private in $5.7B deal

An affiliate of investment funds managed by KKR (KKR) has entered into a definitive agreement to acquire Integer Holdings in an all-cash transaction. The agreement calls for KKR (KKR) to pay $127 per share for all outstanding Integer common stock. The price implies an enterprise value of approximately $5.7 billion for the medical-device contract manufacturer.

The transaction structure is fully cash-based, with no stock component disclosed in the deal terms. The parties describe the consideration as applying to all of Integer’s outstanding shares, bringing the company under private ownership if the transaction is completed.

Integer’s Board of Directors unanimously approved the merger agreement. This decision follows a comprehensive strategic review process that was announced on April 30, 2026. After that review, the board concluded that the agreement with KKR represents the preferred path forward and is recommending that stockholders vote to adopt the merger agreement.

Shareholder approval is a key condition to closing, and the board’s recommendation is intended to guide investors ahead of the formal vote. The strategic review timing underscores that the sale process and the board’s decision were part of a structured evaluation of alternatives.

The acquisition is not subject to any financing contingency, reducing execution risk related to funding. KKR plans to finance the purchase with a combination of equity from investment funds it manages and committed debt financing. This arrangement is intended to ensure funding certainty throughout the closing process.

In addition to shareholder approval, the transaction is subject to required regulatory approvals and other customary closing conditions. The companies expect the transaction to close by the end of 2026, although the exact timing will depend on the pace of the approval processes.

In light of the pending acquisition, Integer has withdrawn its previously issued financial outlook for 2026. The company has also cancelled its earnings conference call and webcast that had been scheduled for August 6, 2026. These steps reflect a shift in focus from standalone public-company guidance to the merger process.

Upon completion of the transaction, Integer will become a privately held company. Its common stock will no longer be listed on the New York Stock Exchange, ending its status as a publicly traded firm. For current shareholders, the $127 per-share cash consideration will replace ongoing participation in the public equity.