07:05 AM EDT, 09/27/2024 (MT Newswires) -- KKR (KKR) said Thursday that it signed a deal to sell GeoStabilization International to Leonard Green & Partners.

No financial details were disclosed but KKR said the sale will deliver a return of "five times" its equity investment.

The company also said all GeoStabilization International employees are set to receive "substantial cash payouts" on their ownership stakes, with the longest-tenured hourly employees to receive over $325,000 each.

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