Aggreko to acquire ICS temperature control business

By Steve Ducker02 September 2015

Aggreko chief executive Chris Weston.

Aggreko chief executive Chris Weston.

Aggreko has agreed to buy the assets of Canada-based mobile temperature control services company ICS Group’s equipment rental business for C$37 million (€24.9 million).

The acquisition, which is subject to pre-closing conditions being satisfied, will establish Aggreko in the North American heater market and in cities such as Calgary and Winnipeg where it does not currently operate.

It also complements many of Aggreko's key sectors including oil and gas, industrial and events.

The acquisition of ICS enhances our temperature control business in North America and gives our customers an unparallelled range of equipment and service options,” said Aggreko chief executive Chris Weston.

“Temperature control products are used extensively in our target sectors and benefit our core business as they generally require associated power.”

The acquisition adds more than 2000 fleet assets and 60 employees to Aggreko’s Rental Solutions business. After a transitional period, Aggreko plans to integrate ICS with its Western Canada business before expanding elsewhere in North America.

ICS had revenues of C$18.2 million (€12.2 million) in the 12 months to July 2015.

Latest News
Profile of ITC keynote speaker Christophe Simoncelli
Simoncelli has spent more than 23 years working with Potain and Manitowoc
Liebherr crawler crane repowers wind farm
The 1000 tonne crane will install ten new 138 metre wide turbines and features a 168 metre lattice boom, a derrick boom and an F2 jib
IRC conference attracts 300 delegates
Ninth IRC equipment rental conference successfully held in Shanghai on 25 October