Portable power provider expands presence in Far East with £25m acquisition

Staffordshire-based portable power supplier, Aggreko has strengthened its presence in the Far East with a £25m acquisition.

The company has acquired KBT (Kerta Bumni Teknindo), an Indonesia-based power rental company, for a maximum consideration of $32.8m (£25.65m) equating to one times net asset value.

KBT has around 200MW of diesel and gas contracts on hire with the local utility company PLN, which adds to the 140MW that Aggreko has contracted.

KBT was established in 1993 and has successfully been serving the power rental market since 2010.

There is an escrow in place allowing for clawback should any of the acquired contracts terminate before a certain period of time.

Chris Weston, Chief Executive, Aggreko, said: “Aggreko has had a long and productive relationship with PLN and Indonesia, and this acquisition will deepen this further. PLN has been clear in its ambition to improve the power situation in East Indonesia in particular, and we will be well placed to support this with our extended presence and competitiveness.”