Aggreko is a leading provider of engineered energy and temperature solutions. It designs and deploys flexible equipment and technologies to deliver essential energy and temperature solutions to a wide range of end market users globally.
Headquartered in the UK, Aggreko employs over 6,900 people globally and is active in over 70 countries.
Initial investment
2021
Sector
Business services
Initial transaction size
£2.8bn
TDR has strong knowledge of the specialty rental sector through prior investments so understood the potential of the business to deliver strong unit economics, and the opportunity to reposition the business as a speciality solutions provider to its core customer base.
We monitored Aggreko for a number of years, so we could buy at the most opportune time. Despite a decline in profitability during COVID, we saw an excellent opportunity for the company to benefit from secular growth trends; repositioning Aggreko as an integrated energy solutions provider (a “one stop shop”).
Upon taking control, we put in place a highly effective Chairman, and initiated an operational transformation, simplifying the business, exiting non-core geographies and instilling stronger capital discipline.
Work was immediately done to shift Aggreko away from simple equipment rental and towards a role as a flexible provider of complex energy solutions, meeting customer needs across all lifecycle stages.
Several add-on acquisitions and significant capital investment in new equipment has seen Aggreko strengthen its position in key geographies. These acquisitions have also enabled the business to expand into adjacent verticals (e.g. renewables and energy transition support). As a group, Aggreko continues to acquire complementary businesses and skills.
17 Aug 2021
24 Feb 2025
