3i sells MWM Holding GmbH to Caterpillar Inc

US group Caterpillar Inc has announced today that it will acquire the business for €580m in cash.

The exit, which is the latest in a series of successful disposals for 3i this year, will generate a little over 2x the group's initial investment, representing an IRR of over 25%.

3i originally backed the €360m buyout of Motoren-Werke Mannheim (then known as Deutz Power Systems) in August of 2007. A leverage structure to support the deal was put in place by Dresdner Bank.

Since that time 3i has helped the business reposition itself as a leading provider of efficient and sustainable energy generation plants. It produces a range of engines and generators that are capable of operating on a wide range of fuels including natural gas, biogas, mine and industrial waste gasses, and diesel.

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