March 19, 2019
Stockholm, Sweden, March 19, 2019: Atlas Copco has acquired Class 1 Incorporated. The company offers design, manufacturing, installation, distribution and service of medical gas solutions in Canada.
Class 1 Inc., is headquartered in Cambridge, Ontario in Canada and has around 50 employees. The company has a branch office in British Colombia and serves both the healthcare and laboratory markets.
In 2018, Class 1 Inc. had an annual revenue of approx. 19 MCAD, (MSEK 130).
"The acquisition will enable us to further strengthen our position as a leading supplier and service provider of medical gas solutions", said Vagner Rego, Business Area President Compressor Technique.
The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
The acquired company will be part of the Medical Gas Solutions Division within the Compressor Technique Business Area and legally become a subsidiary of Atlas Copco Canada Inc.
Atlas Copco Group
Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind.
Atlas Copco is based in Stockholm, Sweden with customers in more than 180 countries and about 37 000 employees. Revenues of BSEK 95/9 BEUR in 2018.