Caterpillar announced this week it has finalized the purchase of MWM Holding GmbH from 3i and funds managed by 3i for €580 million (about $800 million). MWM is a global supplier of sustainable, natural gas and alternative-fuel engines.
The acquisition of MWM will enable Caterpillar to significantly expand customer options for sustainable power-generation solutions. MWM will become part of Caterpillar’s Electric Power Division, which supplies diesel and natural gas generator sets and integrated power systems involved in the generation, control and supply of electricity.
“The completion of the MWM acquisition represents the latest step in our strategic plan to aggressively grow our energy and power systems business,” said Gerard Vittecoq, Caterpillar group president, energy and power systems. “More and more customers want a gas option for their engines. By combining our strengths in diesel and gas power generation with the technology and product strength of MWM, we are well positioned to be a lead provider in gas engine solutions for our customers.”
Peter Grosch will step down as chairman of MWM, continuing to support Caterpillar as integration advisor. MWM will remain headquartered in Mannheim, Germany.
