Sun Capital Partners Group VIII, LLC entered into an expression of interest to acquire K3 Capital Group PLC (AIM:K3C) from management and others for approximately £260 million on December 8, 2022. Sun Capital Partners Group VIII, LLC reached agreement to acquire K3 Capital Group PLC on December 15, 2022. The offer price is 350 pence cash per K3 share. The cash consideration payable for Acquisition will be funded from equity financing drawn down from Sun VIII. K3 Board has unanimously recommended the proposal. The proposal is subject to a number of pre-conditions, including the satisfactory completion of confirmatory due diligence. The K3 Board has formed a committee of independent members led by Ian Mattioli. Sun Capital is required to announce a firm intention to make an offer by no later than January 5, 2023. It is expected that the Court Meeting and the General Meeting will be held in late January 2023 or early February 2023. As of January 26, 2023, the shareholders of K3 approved the scheme at general and court meeting. The scheme remains subject to court sanctioning at the court hearing expected to take place on February 10, 2023. As of January 5, 2023 the deal is expected to close on January 28, 2023. As of January 26, 2023, the scheme is expected to be effected on February 14, 2023. As of February 10, 2023, UK High Court has made an order sanctioning the scheme of arrangement. DLA Piper UK LLP acted as legal advisor and Ernst & Young UK, Investment Banking Arm acted as financial advisor to Sun Capital Partners Group VIII, LLC. Stuart Skinner, Stuart Ord, William Wickham and Tom Burrows Smith of Numis Securities Limited acted as financial adviser to K3 and Tim Richardson, William Marshall, Jon Harrison and Oliver Vaughan of Houlihan Lokey UK Limited acted as financial adviser to Sun Capital.

Sun Capital Partners Group VIII, LLC completed the acquisition of K3 Capital Group PLC (AIM:K3C) from management and others on February 14, 2023.