The Abu Dhabi Investment Authority (ADIA) is among a number of high-profile investors interested in buying a minority stake in Aggreko, the world’s largest temporary power company.
According to a Bloomberg report based on sources familiar with the matter, buyout firms KKR and CVC Capital Partners are also among the parties interested in buying the 30 per cent stake in the Glasgow-based company being offered by owners TDR Capital and I Squared Capital.
The sources told Bloomberg that the deal could value the entire business at US$12 billion or more.
Deliberations are in the early stages and no final decisions have been made, the sources said. Aggreko’s owners could also decide against the stake sale if offers come below their expectations. Representatives for TDR, I Squared, ADIA, CVC and KKR declined to comment, Bloomberg added.
TDR and I Squared took Aggreko private in a US$3.5 billion deal in August 2021.
Aggreko is involved in several events, including some of the biggest sports tournaments and music festivals, and has a diverse portfolio of clients across the construction and travel industries. With more than 6,000 workers, it has a presence in more than 60 global locations with a fleet size of 9.6 gigawatts (in 2021 according to its website).
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