July 2, 2015
Stockholm, Sweden, July 2, 2015: Atlas Copco, a leading provider of sustainable productivity solutions, has acquired the operating assets of Mustang Services, a U.S. specialty dryer rental business that serves industries such as refineries, petrochemical plants and general manufacturing.
Mustang Services is based in Mesquite, Texas, and was part of privately owned Mustang Transportation Co. Mustang Services had revenues in 2014 of about MUSD 6.3 (MSEK 45). The parties have agreed not to disclose the price for the agreement.
Two of the company’s employees are joining Atlas Copco. Mustang Services rents out its equipment, mainly adsorption type air dryers, to industrial end-users that require dry compressed air in their processes, as well as to other rental companies. The products are often rented together with air compressors to provide customers with a total rental solution.
“This acquisition fits well with our strategy as it expands our offering in North America, the biggest market for rental of dryers,” said Andrew Walker, President of the Construction Technique business area. “It enhances our customers’ access to our products and services.”
For more information on Mustang Services, please see www.rentalairdryers.com.
The business becomes part of the Specialty Rental division in the Construction Technique business area.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2014, Atlas Copco had revenues of BSEK 94 (BEUR 10.3) and more than 44 000 employees.
Atlas Copco’s Construction Technique business area provides construction and demolition tools, portable compressors, pumps and generators, lighting towers, and compaction and paving equipment. The business area offers specialty rental and provides service through a global network. Construction Technique innovates for sustainable productivity in infrastructure, civil works, oil and gas, energy, drilling and road construction projects. Principal product development and manufacturing units are located in Belgium, Germany, Sweden, the United States, China, India and Brazil.