Systems®, LLC ("Savant"), the leading
luxury smart home technology company, today announced that it has
received a $90 million investment from affiliates of Kohlberg Kravis
Roberts & Co. L.P. (KKR), a leading global investment firm 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," said William Lynch, CEO, Savant
Systems. "With this significant investment, we will bring our
award-winning Savant Home experience to a broader audience of consumers
"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," said 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 nteracts with their home."
KKR has a deep history of investing in significant companies in the
consumer product and technology space. 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
Savant Systems, LLC is a recognized leader in home control and
automation, and one of the fastest-growing Smart Home companies in the
luxury and mid-market. Savant's powerful technology brings the four
pillars of automation - Comfort, Lighting, Entertainment and Safety -
together in a single application interface for the homeowner. This
comprehensive whole-home control, termed "The Single App Home," delivers
the premium experience in all of Home Automation and is offered through
both an iOS and Android application. Today, Savant is deployed in some
of the most valuable mansions, yachts and castles across the globe, and
the company is increasingly making the award-winning Savant Home system
available to a broader set of customers through its affordable Smart
Line of products. Headquartered in Hyannis, Mass., Savant has offices in
San Francisco and Salt Lake City, and an experience center in New York.
Savant Systems are sold globally through a network of Certified Savant
Home Integrators and through Magnolia Design Centers. Learn more at www.savantsystems.com.
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
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