KKR Completes Tender Offer for Forum Engineering

Core Viewpoint - KKR has successfully completed its tender offer for Forum Engineering Inc., acquiring a significant ownership stake and planning further consolidation to achieve full ownership [1][2][3]. Group 1: Tender Offer Details - KKR's tender offer for Forum Engineering was completed on December 23, 2025, through KJ003 Co., Ltd., an entity owned by KKR-managed funds [1]. - The Offeror is set to acquire 29,761,258 shares, which equates to a 55.89% ownership ratio on a fully diluted basis [2]. - Settlement for the shares acquired in the tender offer will begin on December 30, 2025 [2]. Group 2: Self-Tender and Future Plans - Forum Engineering will initiate a self-tender offer, with major shareholder La Terre Holdings expected to tender its entire 37.07% stake [3]. - Following the self-tender, KKR aims to consolidate shares to achieve full ownership of Forum Engineering, with an extraordinary shareholders' meeting planned for late February 2026 [3]. Group 3: Investment Strategy - KKR's investment in Forum Engineering is primarily sourced from its Global Impact Fund II, indicating a focus on impactful investments [4]. - KKR's Managing Director emphasized the strategic partnership's goal to enhance engineering talent development in Japan and create lasting impacts for engineers and clients [5].