Atlas Copco Closes Acquisition of U.S. Mining Equipment Distributor
Stockholm, Sweden, January 3, 2018: Atlas Copco, a leading provider of sustainable productivity solutions, has closed the acquisition of the assets of Cate Drilling Solutions LLC., a U.S. company that distributes and services Atlas Copco drilling equipment and components.
Cate Drilling Solutions is based in Salt Lake City, Utah, and is active in the states of Utah, Nevada, Wyoming and Idaho. The company is an Atlas Copco full service distributor for surface drilling products. Cate Drilling Solutions also has a state-of-the-art remanufacturing shop that further serves customers’ needs. It has 35 employees.
Atlas Copco announced on December 1, 2017, that it had agreed to acquire the assets of Cate Drilling Solutions. The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
Cate Drilling Solutions becomes part of the service division in the Mining and Rock Excavation Technique business area, which will be listed as Epiroc on the stock exchange in 2018, provided Atlas Copco shareholders’ approval.