Aggreko is a leading global provider of mobile modular power, temperature control and energy services, including micro grids and remote monitoring, to commercial and industrial customers serving multiple end markets across operations in 80 countries. The company’s activities range from the rental of small power units on short term, transactional contracts to working with local utilities in emerging markets that have a structural power deficit to help balance the grid.
Given our investment experience in the specialty rental space, we had built a strong understanding of the Aggreko business over a number of years prior to our investment in August 2021. The company has leading market positions across a diverse range of geographic and sectoral end markets where the increasing demand for power is driving strong secular growth. Furthermore there is a clear opportunity to accelerate the repositioning of the business towards hybrid and alternative technologies. We launched a cash offer for the business in March 2021 and completed the investment in August 2021.