Kohler Co. and California-based private equity firm
Platinum Equity announced Monday that they have closed the transaction to establish
Kohler Energy as a separate, independent business.
Kohler Energy includes what had been Kohler Co.’s power systems, engines, home energy, uninterruptible power, Clarke Energy, Curtis Instruments and Heila Technologies business.
Platinum Equity is now the majority owner of Kohler Energy and Kohler Co. remains an investment partner. Financial details are not being disclosed.
Brian Melka is CEO of Kohler Energy, after serving as group president of energy for Kohler Co. Kohler Co. CEO
David Kohler is a member of the Kohler Energy board of directors.
“This strategic move allows Kohler to focus and invest in our global Kitchen & Bath, Wellness, and Hospitality businesses while also positioning the Energy business to reach its full potential under the ownership of Platinum Equity,” said David Kohler. “I want to thank the entire Energy team; the performance of this business over the last three years has been remarkable. Exciting times are ahead, and Energy will forever have a special place in our company’s heritage.”
“We are excited for this next phase of Kohler Energy with Platinum Equity as a partner,” Melka said. “The demand for resilient energy is growing, and the world needs much more of what we do. Kohler has been an excellent steward of our business for more than 100 years, and this decision positions Kohler Energy to better 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.”
“Platinum is committed to strengthening Kohler Energy’s position as an industry leader and investing in development of 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. We have tremendous respect for David Kohler and the Kohler leadership team, appreciate their confidence in us, and are grateful for their continued partnership.”
“The energy resilience business has an outstanding leadership team, dedicated employees and an opportunity to capitalize 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 are thrilled to work with Brian and the management team to continue investing in the company’s human capital, infrastructure, customer and vendor partnerships, and growth.”
