Platinum Equity has acquired the energy business of Kohler group to grow maritime power and genset manufacturing at time the shipping industry is focusing on alternative fuels and renewable energy
Kohler has sold its energy business to concentrate on building its global business in other sectors such as supplying equipment to hospitality, kitchens, bathrooms and wellness.
Platinum Equity intends to increase the energy business, producing power systems, engines, uninterruptible power systems and instrumentation, and deck machinery within the Heila Technologies subsidiary.
“Platinum is committed to strengthening Kohler Energy’s position as an industry leader and investing in developing a new generation of innovative energy resilience solutions,” said Platinum Equity co-president Jacob Kotzubei. “We are excited about the prospects for the business, which has been at the forefront of energy resilience for more than a century.”
Platinum Equity is a global investment firm with more than US$48Bn of assets under management and has experience in the industrial products sector.
“We are excited for this next phase of Kohler Energy with Platinum Equity as a partner,” said Kohler Energy chief executive Brian Melka. “The demand for resilient energy is growing, and the world needs much more of what we do,” he said after completion of the transaction. Kohler Energy is ready to deliver on that demand. Platinum Equity firmly supports our growth path ahead and can help further accelerate our progress in the global energy resilience industry.”
Kohler Energy supplies generator sets, engines, prime and back-up power solutions and electrified powertrain technologies worldwide.
“The energy resilience business has an opportunity to capitalise on the tailwinds driving demand for reliable power solutions for individuals, businesses and communities around the world,” said Platinum Equity managing director Matthew Louie. “We will continue investing in the company’s human capital, infrastructure, customer and vendor partnerships, and growth.”
Over the past 28 years, Platinum Equity has completed more than 400 acquisitions in a broad range of business markets, including manufacturing, distribution, transport and logistics, equipment rental, metals services, media and entertainment, power and energy, technology, telecommunications and other industries.
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