Atlas Copco to acquire pump rental business in Brazil
April 21, 2017
Stockholm, Sweden, April 21, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire Itubombas Locação Comércio Importação e Exportação Ltda, a pump rental company in the Brazilian market.
Itubombas is based in Itu in the state of São Paulo, Brazil. The company rents out diesel and electric driven centrifugal pumps to professional customers in the oil and gas, construction and mining sectors in Brazil. Itubombas has about 40 employees and had revenues of about MBRL 18 (MSEK 50) in 2016.
“The Itubombas brand is well known in the Brazilian market for its high quality and technical expertise,” said Andrew Walker, President of Atlas Copco’s Construction Technique business area. “This acquisition will strengthen our rental product offering to customers in this crucial market.”
The acquisition is expected to be completed in the second quarter 2017. The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed. Itubombas will become part of the Specialty Rental division in Atlas Copco’s Construction Technique business area.
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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 2016, Atlas Copco had revenues of BSEK 101 (BEUR 11) and about 45 000 employees. Atlas Copco’s Construction Technique business area provides construction and demolition tools, portable compressors, pumps, generators and lighting towers. 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 and drilling. Principal product development and manufacturing units are located in Belgium, Spain, Sweden, the United States, China and India.