Responsive Image Banner

Aggreko agrees Russian divestment with private equity owners

Premium Content

Aggreko is to divest its Russian and Kazakhstan businesses by selling them to its private equity co-owners, TDR Capital and I Squared Capital Partners.

Aggreko’s immediate holding company, Albion JVCo, said it had engaged with potential third party buyers throughout 2023 but that the “challenging regulatory approval regime in Russia” made the sale difficult.

No caption available

It said this had let it to discuss a sale to TDR and I Squared “such that Aggreko Eurasia would no longer form part of the Albion JVCo Ltd Group, but with ultimate ownership of Aggreko Eurasia unchanged.”

The businesses for sale reported revenues of US$123 million in 2023 and the purchase price has been agreed at $108 million, subject to regulatory approvals.

Albion said it was highly probable that the transaction will be approved by 31 December 2024, although uncertainty remained and it could take longer.

Aggreko’s owner, Albion JVCo, stated its aim to sell the Eurasian business following the Russian invasion of Ukraine.

STAY CONNECTED


Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Latest News
UK proposes anti-dumping duties of up to 95% on engine oils and hydraulic fluids
Trade Remedies Authority recommends new anti-dumping duties on engine oils and hydraulic fluids from Lithuania and UAE
LGMG opens new headquarters
Location can accomodate more than 1,500 employess 
CONNECT WITH THE TEAM
Murray Pollok Editor, International Rental News Tel: +44 (0)1505 850043 E-mail: [email protected]
Lucy Barnard Editor, Rental Briefing Tel: +44 (0)1892 786 241 E-mail: [email protected]
Ollie Hodges Vice President, Sales Tel: +44 (0)1892 786253 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA
International Rental News newsletter

Rental Intelligence — When You Need It, How You Need It

Stay ahead with industry trends, expert insights and global news — in your inbox.

Sign me up