Atlas Copco Agrees to Acquire Aggreko's European Compressor Rental Business
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.
Atlas Copco is a world leading provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental. In close cooperation with customers and business partners, and with 135 years of experience, Atlas Copco innovates for superior productivity. Headquartered in Stockholm, Sweden, the Group's global reach spans more than 160 markets. In 2007, Atlas Copco had
33 000 employees and revenues of BSEK 63 (BEUR 6.7). Learn more at www.atlascopco.com.
Specialty Rental is a division within Atlas Copco's Compressor Technique business area. It serves customers in the industry segments around the world with temporary air and power rental solutions. The specialty rental services are offered under several brands. The divisional headquarters is located in Antwerp, Belgium.
For further information please contact:
Ronnie Leten,
Business Area President, Compressor Technique
+32 (0)3 870 2938
or
+32 (0)477 222 685
Daniel Frykholm,
Media Relations Manager
+46 (0)8 743 8060
or
+46 (0)70 865 8060
