-Kohler Co. will establish the energy division as an independent business with Platinum Equity as a majority investment partner, accelerating long-term growth strategies for both organizations
An independent company providing energy resilience solutions is expected to benefit from Platinum Equity's unique and operational expertise
KOHLER, Wis., Nov. 6, 2023 /PRNewswire/ -- Kohler Co. today announced the strategic decision to establish Kohler Energy as a separate, independent company with Platinum Equity as the majority investment partner. Kohler will continue to invest in the Energy business post-closing and remains committed to supporting its upward trajectory based on a proven track record of strong performance in the global energy resilience market. Businesses included in the portfolio are Power Systems, Engines, Home Energy, Kohler Uninterruptible Power, Clarke Energy, Curtis Instruments and Heila Technologies.
While Kohler Co. and Platinum Equity must complete several milestones and legal requirements, including consultations with employee works councils, the transaction is expected to close in the first half of 2024. Until then, Kohler Co. will operate as a company .
"Today we are taking a bold, strategic step for the future of our company," said David Kohler, president and CEO of Kohler Co. "For the past 150 years, Kohler has embraced a relentless pursuit of delivering exceptional products, services and experiences for our customers. This important moment in our journey signifies our commitment to deepen focus and investment in Kohler's kitchen & bath and hospitality businesses and continue to drive growth within our respective industries. The timing is right given the strength of the energy business, which is driven by world-class products manufactured and sold by highly skilled associates. I look forward to supporting the Energy business through our continued investment along with my role on the board of directors after closing."
Kohler Energy is a global leader in energy resiliency, providing mission-critical energy solutions for homes, businesses and equipment. Its market-leading portfolio of primary and backup power equipment, traditional and electrified powertrain technologies and home energy solutions are trusted around the world.
"Kohler has been an excellent steward of the business for over 100 years. We will continue that vision with Platinum Equity, which shares the same values of quality, innovation and operational excellence and is fully invested in our growth journey. We look forward to driving significant continued investment that increases value for our customers, team members and shareholders," said Brian Melka, president of the Kohler Energy group. "I am proud of what the team has done to build an industry-leading business and we look forward to working with Platinum Equity as we embark on our next phase of growth. Our immediate priority is to ensure a seamless transition that provides the best experience for our clients and team members around the world.
Brian Melka will be CEO of the Energy business, with David Kohler on its board of directors.
Platinum Equity is a global investment firm with approximately $47 billion in assets under management. Kohler selected Platinum Equity due to the company's deep operating experience and successful track record in foreclosure transactions.
"Kohler Energy has a well-deserved reputation for quality, innovation and engineering that dates back more than a century," said Platinum Equity Co-President Jacob Kotzubei. "We appreciate Kohler's confidence in our ability to build on that legacy and support the continued growth and expansion of the energy business as an independent company. We have great respect for David and the Kohler leadership team and are proud to be their partners."
Platinum Equity has 28 years of experience in acquiring and operating global businesses that have been part of large corporate entities. In recent years the firm has acquired businesses from firms such as Ball Corporation, Caterpillar, Emerson Electric, Ingersoll Rand and Johnson
"The energy resilience business has outstanding leadership, strong technical capabilities and an opportunity to benefit from attractive tailwinds driving a sustained need for reliable energy solutions in industrial, commercial, residential and equipment applications," said the CEO of Platinum Equity, Matthew Louie. “We look forward to working with Brian and the management team to continue investing in the business and maximizing its potential.”
About Kohler Co. For 150 years, Kohler Co. has been a global leader in design and innovation, dedicated to delivering elegant living through kitchen and bath products; luxury cabinets, tile and lighting; distributed energy solutions (home energy, industrial energy systems and powertrain technologies) and luxury hospitality experiences and major golf championships. Kohler's Whistling Straits Golf Course hosted the 43rd Ryder Cup in 2021. Privately held Kohler Co. was founded in 1873 and is headquartered in Kohler, Wisconsin. The company also develops solutions to address pressing issues, such as clean water and sanitation, for underserved communities around the world to improve the quality of life for current and future generations.
About Kohler Energy Kohler Energy, a global leader in distributed energy solutions, brings bold design and powerful impact to the energy systems that sustain people and communities around the world. It is an integral part of Kohler Co., with solutions in home energy, industrial power systems and powertrain technologies. Leveraging the strength of its portfolio of brands (Power Systems, Home Energy, Kohler Uninterruptible Power, Clarke Energy, Heila Technologies, Curtis Instruments and Engines) and more than a century of industry leadership, Kohler Energy builds resilience when the grid cannot and fails, beyond functional and individual recovery to create better lives and communities. For more details, visit kohler.com/energy.
About Platinum Equity Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion in assets under management and a portfolio of approximately 50 operating companies serving clients around the world. Platinum Equity specializes in mergers, acquisitions and operations (a proprietary strategy it calls M
Contactos:Stephen MaliszewskiKohler Co. Public Relationsstephen.email@example.com
Todd WeberKohler Co. Public Relationstodd.firstname.lastname@example.org
Dan WhelanPlatinum Equitydwhelan@platinumequity.com
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