Aggreko discussing private equity sale

Aggreko is in discussions with private equity firms TDR Capital and I Squared Capital over a possible sale.

The firms have made a cash offer that values Aggreko’s shares at £8.80, which represents a 39% premium over the closing price yesterday.

Aggreko said; “Discussions between Aggreko and the Consortium [of private equity firms] are ongoing. There can be no certainty either that an offer will be made or as to the terms on which any offer might be made.” It said a further announcement would be made when appropriate.

UK-based TDR Capital is well versed in the equipment rental sector through its long involvement with portable accommodation specialist Modulaire (previously Algeco) and WillScot in North America.

Miami-based I Squared Capital invests in global infrastructure markets, including hydoelectric projects, water treatment, roads and energy.