Atlas Copco to Acquire Australian Mining Service Business
Stockholm, Sweden: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the assets of Hy-Performance Fluid Power Pty Ltd, an Australian service provider for mining and infrastructure.
Hy-Performance Fluid Power is based in Brisbane, with sales mainly in Australia. The company provides remanufacturing, service and repair of hydraulic components for drill rigs. It has 26 employees and had revenues of MAUD 7.5 (MSEK 50) in the fiscal year ending June 30, 2017.
“The strong team at Hy-Performance Fluid Power will play an important role as we continue to strengthen our value offering to mining and infrastructure customers,” said Helena Hedblom, President of Atlas Copco’s Mining and Rock Excavation Technique business area.
The acquisition is expected to be completed in the first quarter 2018. The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed. The business will be 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. To learn more about Hy-Performance Fluid Power, please see http://www.hyperfluid.com.au.