United States: Kohler sells majority stake in energy unit to investment firm

Kohler Co. and Platinum Equity announced this week that it has sold a majority stake in its energy unit to investment firm Platinum Equity and both companies have closed the transaction to establish Kohler Energy as a separate, independent business.

"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 who was previously group president for energy within Kohler has been appointed CEO of the new Energy business. Melka said: "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."