(Bloomberg) -- Platinum Equity has agreed to take control of Kohler Co.’s business making generators for personal, residential and industrial use.

Kohler on Monday announced the creation of a new unit called Kohler Energy, with Platinum as its majority investment partner. Financial details were not disclosed. Bloomberg News reported last week that Platinum was in advanced talks to buy the asset for more than $3 billion.

Founded in 1873, Kohler is well known for kitchen and bath products, power systems, engines and tiles. The generators division makes a range of units, with all products designed and assembled in the US, according to its website. 

The businesses included in the new Kohler Energy portfolio are Power Systems, Engines, Home Energy, Kohler Uninterruptible Power, Clarke Energy, Curtis Instruments and Heila Technologies.

Kohler, led by chairman and Chief Executive Officer David Kohler, is owned by the billionaire Kohler family. The family also owns and operates resorts including Whistling Straits in Wisconsin and the Old Course Hotel in St. Andrews, Scotland. 

Platinum, which is currently raising its sixth buyout fund, agreed last month to buy a stake in US LBM from Bain Capital. Also last month, Platinum emerged as the lead bidder for Jacobs Solutions Inc.’s Critical Mission Solutions unit, Bloomberg News has reported.

Goldman Sachs Group Inc. and William Blair & Co. advised Platinum Equity on the deal. BDT & MSD Partners and Bank of America Corp. worked with Kohler.

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