Private equity firms ‘consider $10bn Aggreko exit’

Private equity firms TDR Capital and I Squared Capital are considering options to exit their ownership of Glasgow-based mobile power giant Aggreko plc, according to a Bloomberg report.

The investment firms are talking to potential advisers on alternatives including selling a minority stake, a full sale or an initial public offering of Aggreko, which could have an equity value of about $10 billion or more, the report said.

TDR Capital and I Squared declined to comment. Any transaction would likely be launched next year, Bloomberg reported.

TDR and I Squared teamed up to take Aggreko private in a £2.6 billion ($3.4 billion) deal in 2021.

Aggreko offers rentals of power, heating and cooling equipment to clients in the energy, refining, construction and events industries, among others.

It provides mobile energy for major sporting events, concerts and natural disasters.

The company employs more than 6,000 workers in more than 60 global locations, with a fleet size of 9.6 gigawatts.