Caterpillar boosting power generation division

The European Commission has given its approval for Caterpillar's acquisition of MWM Holding from 3i and funds managed by 3i. This deal will boost Caterpillar's power generation offering as MWM is a leading global supplier of sustainable, natural gas and alternative-fuel engines. "We are pleased with this decision from the EC," said Caterpillar chairman and CEO Doug Oberhelman.
May 4, 2012 Read time: 2 mins
The European Commission has given its approval for 178 Caterpillar's acquisition of MWM Holding from 3i and funds managed by 3i. This deal will boost Caterpillar’s power generation offering as MWM is a leading global supplier of sustainable, natural gas and alternative-fuel engines. “We are pleased with this decision from the EC,” said Caterpillar chairman and CEO Doug Oberhelman. “The MWM business is a natural complement to our longstanding diesel and gas powered generation business, and the integration of MWM will result in important synergies leveraging the two companies’ existing product ranges, advanced engine technologies, research and development resources, manufacturing, distribution and customer support capabilities,” Oberhelman added. The EC clearance is the final regulatory requirement needed for the acquisition to be completed, and the transaction is expected to close before year end. The transaction is valued at €580 million (approximately US$800 million) and will be paid in cash. MWM will become part of Caterpillar’s Electric Power Division, which supplies natural gas and diesel generator sets and integrated power systems involved in the generation, control and supply of electricity.
Earthmoving & soil compaction

For more information on companies in this article

Related Content

  • Hill & Smith Holdings PLC record 8.5% revenue growth in 2012
    March 12, 2013
    Hill & Smith Holdings PLC, a prominent international group in the manufacture and supply of infrastructure products and galvanising services to global markets, achieved 8.5% revenue growth to US$657.16 million (£440.7mn) in the calendar year 2012, compared to $605.72 million (£406.2mn) the previous 12 months. The Group’s underlying profit before tax was also up 8% to $60.24 million (£40.4mn), from $55.77 million (£37.4mn) in 2011. Just over three quarters – 76% - of profits were generated last year from ov
    Read More
  • Concrete paving developments boosting performance
    April 12, 2018
    Change is afoot at Miller Formless following its change of ownership, with investment in research and design a priority – Mike Woof writes Miller Formless is undergoing a process of change under its new ownership, with investment in the factory as well as in the product range. The recent tie-up between Guntert & Zimmerman and Miller Formless has brought additional global manufacturing capacity. Guntert & Zimmerman had established a manufacturing presence in India through an agreement with a local firm, a
    Read More
  • Renishaw completes acquisition of laser measurement specialists MDL
    February 5, 2013
    Global engineering technology firm Reinshaw now has full ownership of UK-based Measurement Devices Ltd (MDL), following the purchase of an outstanding 34% shareholding for US$7.07 million (£4.5mn). The acquisition of the shares concludes an agreement reached in 2010, when Renishaw purchased an initial 29% stake in MDL, the designers and manufacturers of high speed laser measurement and surveying systems for use in extreme conditions. Steve Ball, the founder of MDL, will be leaving the company, whilst Elaine
    Read More
  • Volvo Penta expanding its presence in battery technology
    February 16, 2024
    Volvo Penta is expanding its presence in the battery technology sector
    Read More

Highlighted Content