TDR Capital and I Squared Capital, the current private equity owners of Glasgow-based mobile power giant Aggreko plc, are exploring options to either re-list the company in the United States later this year or sell a minority stake potentially valuing the business at between $10 billion and $12 billion.

That’s according to an article in The Financial Times, a London newspaper. Bloomberg News previously published a similar report.

Goldman Sachs and JP Morgan are reportedly Aggreko’s financial advisers.

Aggreko was listed in London before being bought by the private equity firms for about £2.3 billion in 2021.

Since going private, Aggreko has performed well, with revenues rising from about £1.76 billion in 2022 to £2.2 billion in 2023.

Some analysts have forecast that Aggreko is likely to have continued posting double-digit revenue growth of between 13% and 14% between 2025 and 2026.