San Diego Business Journal

Mitchell International to Be Sold By LA Equity Firm To N.Y. Private Equity Firm

Friday, September 6, 2013

New York private equity firm KKR & Co. L.P. has agreed to acquire San Diego-based Mitchell International from a private equity firm.

Los Angeles-based Aurora Capital Group was the seller. Financial terms were not disclosed.

The transaction awaits regulatory approval and is expected to close in the fourth quarter.

Some may know buyer KKR & Co. (NYSE: KKR) by the name Kohlberg Kravis Roberts.

Mitchell offers technology to process insurance claims, including property and casualty as well as auto collision repair. It has 2,000 employees.

KKR was advised by BofA Merrill Lynch and Three Ocean Partners on the transaction. Goldman, Sachs & Co. served as lead financial adviser to Mitchell. William Blair & Co. and Guggenheim Securities also advised the company.

KKR has $83.5 billion in assets under management.

— SDBJ Staff Report