Kohler Co. and Platinum Equity Close Transaction to Establish Kohler Energy as Independent Business
NEWS PROVIDED BYKohler Co.
May 06, 2024, 15:15 ET
KOHLER, Wisconsin., May 6, 2024 —
Kohler Co. and Platinum Equity have jointly announced the successful completion of a transaction that marks the establishment of Kohler Energy as an autonomous, standalone entity. With this arrangement, Platinum Equity has assumed majority ownership of the Energy business segment, while Kohler Co. continues to participate as an investment partner. The financial particulars of the deal have not been disclosed.
Kohler Energy is optimally situated to maintain its robust performance within the global energy resilience market, now functioning as an independent entity separate from Kohler Co. Brian Melka has been appointed as the CEO of the Energy division, assuming a higher leadership position following over a decade of dedicated service at Kohler, during which he played a pivotal role in the division’s expansion and success. David Kohler holds a position 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 stands as a leading global investment firm, boasting over $48 billion in assets under management. The firm has garnered a wealth of experience as a reliable partner within 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 over a century and a half, Kohler Co. has stood at the forefront of bold design and innovation, steadfast in its mission to enhance the gracious, healthy, and sustainable living of individuals worldwide. Specializing in a broad array of products and services, including kitchen and bath items, premium cabinetry, tiles, lighting, wellness solutions, luxury hospitality experiences, and championship golf, Kohler Co. is synonymous with excellence and sophistication.
Established in 1873 by the Kohler family, this privately-owned entity has its roots and headquarters in Kohler, Wisconsin. Beyond its commitment to quality and elegance in its product lines, Kohler Co. is deeply invested in fostering sustainable living practices. Through its “Innovation For Good” initiative, the company tackles critical global issues such as clean water access and safe sanitation. By introducing innovative products and services, Kohler Co. aims to significantly improve the lives of underserved populations, paving the way for a better future for all.
Under the guidance of David Kohler, who holds the position of Chair and CEO, the company proudly carries forward the Kohler family’s legacy into its fourth generation of leadership. Visit the official kohler.com for more information on their enduring commitment to enhancing everyday life through innovation and design.
About Kohler Energy
Kohler Energy specializes in a comprehensive range of energy solutions, encompassing Home Energy, Industrial Energy Systems, and Powertrain Technologies. With a robust portfolio that includes Power Systems, Home Energy, Kohler Uninterruptible Power, Clarke Energy, Heila Technologies, Curtis Instruments, and Engines, Kohler Energy leverages over a century of industry leadership to ensure resilience in times when the traditional power grid falls short. The company is committed to not just facilitating individual recovery but also to enhancing the quality of life and fostering stronger communities through its innovative solutions. For more information, please visit kohlerenergy.com.
About Platinum Equity
Established in 1995 by Tom Gores, Platinum Equity stands as a premier global investment firm, boasting over $48 billion in assets under management and a diverse portfolio of approximately 50 active companies that cater to a global customer base. Renowned for its distinctive approach to business, Platinum Equity specializes in mergers, acquisitions, and operations—a strategy it has trademarked as M&A&O®. This approach enables the firm to acquire and efficiently manage companies across a wide spectrum of industries, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, and telecommunications, among others. Over the span of nearly three decades, Platinum Equity has successfully executed more than 400 acquisitions, cementing its reputation as a leader in the investment community.
Contacts:
Todd Weber
Kohler Co.
to********@ko****.com
Patrick Rose
Weber Shandwick
pr***@we************.com
Dan Whelan
Platinum Equity
dw*****@pl************.com
SOURCE Kohler Co.
