KKR leads USD90m equity investment in Savant
Savant Systems has received a USD90 million investment from affiliates of Kohlberg Kravis Roberts (KKR) and the founder of Savant, Robert Madonna.
The funding will support Savant’s continued product innovation and company expansion.
“Savant is already an established market leader in home automation with clients including some of the most discerning public figures, entertainers and business leaders,” says William Lynch, chief executive, Savant Systems. “With this significant investment, we will bring our award-winning Savant Home experience to a broader audience of consumers worldwide.”
“Savant is positioned very well to play a leading role in defining the future of home automation given its strong technology platform and user-centric experience,” says David Kerko, co-head of technology investing at KKR. “We believe Savant will continue to introduce highly innovative smart home automation solutions that will dramatically shift the way everyone interacts with their home.”
Following the firm’s investment in Sonos in 2012, KKR continues to invest in the connected homes space. KKR is funding the investment from its North American Private Equity Fund XI.
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