Kohler said to agree GBP-300m buy of Clarke Energy - report

Kohler Power Group has entered into a GBP-300-million (USD 381m/EUR 359m) agreement to buy Clarke Energy Ltd, a UK provider of engines that run on traditional and renewable gas sources, The Sunday Times reports.

Liverpool-based Clarke Energy is engaged in the installation and maintenance of engine-based power plants. It is the largest authorised distributor and service provider for General Electric’s (NYSE:GE) reciprocating engine business. GE’s engines operate on various gas sources including renewables such as biogas, sewage and landfill gas.

Informed sources have told the newspaper that Clarke Energy’s founder, Jim Clarke, and minority investor ECI Partners have agreed to sell their entire interest in the company to Kohler.

The insiders have also said that a number of private equity firms had shown interest in the business after Clarke hired advisory firm KPMG to find buyers in August.

(GBP 1.0 = USD 1.272/EUR 1.187)

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