The European Commission has given its approval for Caterpillar's acquisition of MWM Holding from 3i and funds managed by 3i. This deal will boost Caterpillar's power generation offering as MWM is a leading global supplier of sustainable, natural gas and alternative-fuel engines. "We are pleased with this decision from the EC," said Caterpillar chairman and CEO Doug Oberhelman.
The European Commission has given its approval for 178 Caterpillar's acquisition of MWM Holding from 3i and funds managed by 3i. This deal will boost Caterpillar’s power generation offering as MWM is a leading global supplier of sustainable, natural gas and alternative-fuel engines. “We are pleased with this decision from the EC,” said Caterpillar chairman and CEO Doug Oberhelman. “The MWM business is a natural complement to our longstanding diesel and gas powered generation business, and the integration of MWM will result in important synergies leveraging the two companies’ existing product ranges, advanced engine technologies, research and development resources, manufacturing, distribution and customer support capabilities,” Oberhelman added. The EC clearance is the final regulatory requirement needed for the acquisition to be completed, and the transaction is expected to close before year end. The transaction is valued at €580 million (approximately US$800 million) and will be paid in cash. MWM will become part of Caterpillar’s Electric Power Division, which supplies natural gas and diesel generator sets and integrated power systems involved in the generation, control and supply of electricity.
