Aggreko in US acquisition

3rd Dec 2010 07:22

Temporary power and temperature control specialist Aggreko has beefed up its presence in the oil and gas market with a US acquisition.The company is paying $26m for Northland Power Services, a leading provider of power solutions for the oil and gas exploration and production market in the Rocky Mountain region of the United States.Based in Gillette, Wyoming, Northland operates out of three locations, has around 57 megawatts (MW) of power fleet and has forecast revenues for 2010 of around $12m. The acquisition will take the number of Aggreko service centres in North America to 53, and the number of employees to over 800."This acquisition gives Aggreko an opportunity to grow in an important sector and develop our relationships with customers in the unconventional oil and gas markets. For Northland's existing customers, it will bring access to a broader range of equipment and services, as well as the resources and expertise of a global power rental business," said Rupert Soames, chief executive of Aggreko.