Ontario Teachers’ acquires majority stake in GreenCollar from KKR


Ontario Teachers’ Pension Plan (“Ontario Teachers'”) and KKR, a global investment firm, announced a definitive agreement to transfer KKR and other shareholders’ stakes in GreenCollar to Ontario Teachers’. The financial terms of the transaction remain undisclosed. The deal, expected to close in the fourth quarter of 2023, will result in Ontario Teachers’ holding a significant majority stake in GreenCollar. James Schultz, the CEO and Co-Founder of GreenCollar, will continue leading the business while retaining a notable ownership share.

History and Significance of the Investment

Ontario Teachers’ first invested in GreenCollar in March 2022. This latest investment intensifies the relationship between the two organizations. The Ontario Teachers’ Natural Resources group, a subdivision of the Infrastructure and Natural Resources department, has significant experience in sectors like agriculture, aquaculture, and natural climate solutions. This makes them a suitable majority shareholder for GreenCollar, which is an Australian environmental markets platform.

See also  Singtel secures $800m investment from KKR for regional data centre business

Stakeholder Quotes on the Investment

Christopher Metrakos, Senior Managing Director, Natural Resources at Ontario Teachers’, mentioned, “We are pleased to increase our investment in GreenCollar and to continue supporting James and his team in their mission to restore and enhance natural capital in areas like biodiversity and water quality.” James Schultz, GreenCollar CEO, added, “We look forward to our deepening relationship and collaboration with Ontario Teachers’ and tapping into their knowledge and expertise in the natural resources sector.”

See also  Commonwealth Bank of Australia to sell 55% stake in Colonial First State to KKR

KKR’s Global Impact Strategy and Employee Ownership Plan

GreenCollar was initially a part of KKR’s Global Impact strategy, focusing on companies contributing to the United Nations Sustainable Development Goals. GreenCollar is a certified B corporation, specializing in environmental initiatives that support climate action. It is also the first Global Impact Fund investment to implement an employee ownership plan, benefiting all GreenCollar employees once the transaction is completed.

See also  Walmart to sell 85% stake in Japanese supermarket chain Seiyu to KKR and Rakuten

Transaction Advisors and Closing Details

The transaction remains subject to customary regulatory approvals. KKR was advised by Gilbert & Tobin and UBS, while Ontario Teachers’ received advisory services from Baker & Mackenzie and EY.

Share This