KOHLER,
Wis., May 6, 2024 /PRNewswire/ -- Kohler Co. and
Platinum Equity announced today the companies have closed the
transaction to establish Kohler Energy as a separate, independent
business. Platinum Equity is now the majority owner of the Energy
business and Kohler Co. remains an investment partner.
Financial details are not being disclosed.
Kohler Energy is strategically positioned to continue strong
performance in the global energy resilience marketplace, now
operating as a standalone company outside of Kohler Co.
Brian Melka is CEO of
the Energy business, elevating his leadership role after more
than 10 years working at Kohler and driving the group's growth and
success. David Kohler serves on its
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, Chair and CEO of
Kohler Co. "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."
Brian Melka, CEO of Kohler
Energy, added: "We are excited for this next phase of Kohler Energy
with Platinum Equity as a partner. 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 Equity is a global investment firm with more than
$48 billion of assets under
management and is an experienced partner in the industrial
products sector.
"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."
About Kohler Co.
For more than 150 years, Kohler Co. has been a global leader in
bold design and innovation, dedicated to helping people live
gracious, healthy, and sustainable lives through its kitchen and
bath products; luxury cabinetry, tile, and lighting; wellness
products and services; and luxury hospitality experiences and major
championship golf. Privately held Kohler Co. was founded in
1873 and is headquartered in Kohler,
Wisconsin. The company also develops sustainable living
solutions to enhance the quality of life for current and future
generations. Its Innovation For Good platform addresses pressing
issues, such as clean water and safe sanitation, with breakthrough
products and services for underserved communities. David Kohler serves as Chair and CEO and
represents the fourth generation of Kohler family leadership.
About Kohler Energy
Kohler Energy provides solutions across Home Energy, Industrial
Energy 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 goes beyond functional, individual recovery to create
better lives and communities. For more details, please visit
kohlerenergy.com.
About Platinum Equity
Founded in 1995 by Tom Gores,
Platinum Equity is a global investment firm with more than
$48 billion of assets under
management and a portfolio of approximately 50 operating companies
that serve customers around the world. Platinum Equity specializes
in mergers, acquisitions and operations – a trademarked strategy it
calls M&A&O® – acquiring and operating companies
in a broad range of business markets, including manufacturing,
distribution, transportation and logistics, equipment rental,
metals services, media and entertainment, technology,
telecommunications and other industries. Over the past 28 years
Platinum Equity has completed more than 400 acquisitions.
Contacts:
Todd
Weber
Kohler
Co.
todd.weber@kohler.com
Patrick Rose
Weber Shandwick
prose@webershandwick.com
Dan Whelan
Platinum
Equity
dwhelan@platinumequity.com
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SOURCE Kohler Co.