Atlas Copco to Acquire Pump Rental Business in Brazil
Stockholm, Sweden: 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.