Atlas Copco acquires Clementina Equipment Company
August 31, 1999
Stockholm August 31st --- Atlas Copco is pleased to announce that Prime Service, Inc. has acquired Clementina Equipment Company. The acquisition is in line with the Group’s strategy to grow in the equipment rental business in the United States.
Prime Service, Inc., a division in the Atlas Copco Group, has purchased for an undisclosed amount substantially all of the assets of Clementina Equipment Company, a San Francisco based equipment rentals and sales company. Clementina operates under the names Clementina Equipment, Wilkinson Equipment, and Clementina Refinery Services, and currently has 7 stores in the northern California area with approximately 150 employees. Clementina had rental and sales revenue in 1997 of approximately $32.5 million. Tom Bennett, the President and CEO of Prime Service, stated "We have long wanted to enter the Northern California market, and we believe that with this acquisition Prime immediately has a major presence here including the Bay Area." Prime Service, Inc., operating as PRIME Equipment, is a leader in the equipment rental industry, operating 160 stores in 20 states and Mexico. PRIME Equipment represents for rental and sale over 100 different types of equipment, including aerial manlifts, portable air compressors, forklifts and light earthmoving equipment, as well as small equipment such as power tools. PRIME Equipment has a base of over 98,000 customers ranging from Fortune 500 companies to subcontractors and homeowners. Additional information about Prime is available on our World Wide Web site: www.prime-equip.com For further information, please contact Robin Bennett, Director of Marketing, Prime Service, Inc. Phone: +1 281 578-5600 Annika Berglund, Vice President, Corporate Communications, Atlas Copco AB Phone +46 8 743 8070, mobile +46 70 322 8070, [email protected] Atlas Copco Group, based in Sweden, is an international industrial group of companies and is among the world’s leading suppliers of products and services in the areas of air and gas compression, industrial manufacturing, rock excavation, light construction and demolition, as well as installation, repair and service. Additional information about Atlas Copco is available on our World Wide Web site: www.atlascopco.com