November 20, 2008
Stockholm, Sweden, November 20, 2008: Atlas Copco has agreed to acquire the European oil-free air compressor rental business of Aggreko plc, expanding the Atlas Copco Specialty Rental division. The total purchase price is MEUR 14.6 (MSEK 148).
The acquired business generates annual revenues of about MEUR 9 and has 25 employees. The deal includes about 200 compressors and dryers, which will be integrated into Atlas Copco’s existing European rental fleet.
“This business is a perfect fit with our Specialty Rental division as they serve similar market segments and applications, broadening our customer base in Europe,” says Ronnie Leten, Business Area President, Atlas Copco Compressor Technique. “The acquisition supports the growth of Specialty Rental’s core business, rental of oil-free air equipment.”
The deal will close today, with the exception of operations in countries subject to anti-trust approval.
The buyers of the fleet assets are various Atlas Copco companies in Europe. The seller, UK-based Aggreko plc, is a global leader in the rental of power generation and temperature control systems.
Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act.