November 3, 1997, -- Prime Service, Inc, a division within the Atlas Copco Group, announced today that it has entered into an agreement to purchase substantially all the assets of Rental Equipment Service Company (RESCO) from Bramco, Inc. The acquisition of RESCO will give Prime a major presence in eight new metropolitan markets as well as three new states.
RESCO is headquartered in Louisville, Kentucky and operates sixteen rental centers in eight states. The acquisition of RESCO is scheduled to close in the second half of November, and is subject to receipt of all necessary governmental approvals and other standard closing conditions.
Prime is one of the leaders in the rental equipment industry in the United States, and currently operates 139 rental equipment locations in 15 states. The company rents over 100 equipments including aerial manlifts, portable air compressors, forklifts and light earth moving equipment, as well as small equipment such as power tools. Prime has a base of over 50,000 customers ranging from Fortune 500 companies to subcontractors and homeowners.
Atlas Copco, based in Sweden, is an international industrial group of companies and is among the world’s leading suppliers of products and services in the area of air and gas compression, industrial manufacturing, rock excavation, light construction and demolition, as well as installation, repair and service. Atlas Copco has approximately 23,000 employees worldwide, and had sales in 1996 of approximately $3.6 billion.
For further information, please contact:
Lennart Johansson, Senior Vice President, +46 8 743 8570
Christer Lundin, Communications Manager, +47 8 743 8074