3i Group plc (“3i”) and co-investors have agreed the sale of KINOLT to Rolls-Royce, a global leader in power and propulsion systems.
KINOLT, headquartered in Belgium, designs, manufactures and maintains dynamic uninterruptable power supply (“Dynamic UPS”) systems for customers across the globe through its network of 13 locations. Dynamic UPS systems are highly relevant to customers operating in an environment where a power outage would have severe consequences, including data centres, hospitals, airports, other critical infrastructure and critical manufacturing facilities.
KINOLT has achieved double-digit annual sales growth since 3i invested in 2015, underpinned by attractive market fundamentals and the growth of the international sales network. Over the past five years, KINOLT has cemented its position as a technological leader in the growth market for Dynamic UPS systems. 3i has worked closely together with the KINOLT management team to significantly expand KINOLT’s international footprint and have continued to invest in product innovation.
Rolls-Royce is a strong strategic partner to help drive the next growth phase of KINOLT, bringing unique expertise and a global sales network. The KINOLT product portfolio is highly complementary to the current offering of Rolls-Royce and fits well within the strategy of Rolls-Royce Power Systems, which is focused on becoming a provider of integrated solutions.
The transaction is subject to customary antitrust approvals. Closing is expected in the next months.