Multiple sources are reporting that Kohler Energy, which includes the Kohler Generator Division, has agreed to be acquired by Platinum Equity. That investment firm manages some $47 billion in assets.
Platinum Equity will now become the majority investment partner of Kohler Energy, encompassing Power Systems, Home Energy, Kohler Uninterruptible Power, Clarke Energy, Curtis Instruments and Heila Technologies.
According to a news release from Platinum Equity, Brian Melka, the current Group President – Energy for Kohler Company, will serve as CEO of the energy business, while David Kohler, Chair and Chief Executive Officer of Kohler Company, will serve on its board. William Blair and Goldman Sachs have served as financial advisors to Platinum Equity on the Kohler Energy investment. The transaction is expected to be completed during the first half of next year.
A statement on social media from UAW Local 833, which represents workers at Kohler Company, said that they were notified of the acquisition, and that “We will continue to keep our members updated as much as we can. We have reached out to our International for support. No one jump to conclusions, please keep business as usual.”
