Stay up to date on our entrepreneurs, events, research and more. Check out our September newsletter here.
The Brazilian temporary infrastructure company Poit Energia, started by Endeavor Entrepreneur Wilson Poit, was recently bought by Scottish temporary power group Aggreko for £140 million GBP ($220 million USD). This marks the largest deal ever done by a Brazilian Endeavor Entrepreneur. The high sales price is also reflective of Poit’s incredible growth in the Brazilian, Chilean, Peruvian, and Argentine markets over the last 13 years. Poit earned £46 million GBP in revenue last year, and has posted a 45% compound annual growth rate over the last 3 years. They also have a fleet of over 1,300 generators, and over 450 employees in their 18 depot locations throughout Latin America, making them the largest temporary energy resource in these markets.
Started in 1999, Poit Energia has been an incredible success for founder Wilson Poit. After getting his degree in Industrial Engineering, he took a look at how to overhaul the ineffective Brazilian Generator industry. Creating a scaleable business of leasing state-of-the-art generators and temporary power equipment, Poit Energia grew quickly to dominate the market. The founder is also deeply passionate about the environment, and has integrated strict recycling and sustainability measures into Poit Energia’s business. For his work, Poit was recognized as one of the “Entrepreneurs of the New Brazil” in 2002, and in 2008 was awarded the prestigious Ernst & Young “Entrepreneur of the Year” award.
However, selling his namesake company doesn’t mean that Poit will be leaving the business he grew from the ground up. As Aggreko expands their operations for the first time into Latin America, they need experts in the local market and have reached a deal to keep Wilson Poit and his management team running Poit for the next year. His expertise will be crucial for Aggreko, as they have a set goal of doubling Poit’s facilities in Latin America in the next few years. This will be the fifth acquisition of a local company which Aggreko has done in the last 4 years, and their stock price surged 1.25% after the announcement of the merger, indicating positive investor opinion of Poit’s Latin American business.
This sale will also mark the largest equity donation of an entrepreneur to Endeavor. Picked in 2002 by Endeavor’s International Selection Panel, Poit has since been a valuable and active member of the Endeavor network. When reached for comment about the sale he stated, “It is just the beginning of a long high-impact journey…I learned to dream big with Endeavor.”
© 2016 Endeavor Global, Inc.
All Rights Reserved
Endeavor Global, Inc.
900 Broadway, Suite 301
New York, NY 10003
1 (212) 352-3200
Site by #BRITEWEB