PR Newswire
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.
