Atlas Copco has acquired the operating assets of Mustang Services, a US-based speciality dryer rental business that serves industries such as refineries, petrochemical plants and general manufacturing.
Based in Texas, Mustang was previously part of the privately owned Mustang Transportation Company. Its revenues in 2014 were US$6.3 million (€5.4 million). The parties have agreed not to disclose the price for the agreement.
Mustang rents out its equipment, mainly adsorption type air dryers, to industrial end-users that require dry compressed air in their processes, as well as to other rental companies.
The products are often rented together with air compressors.
“This acquisition fits well with our strategy as it expands our offering in North America, the biggest market for rental of dryers,” said Andrew Walker, president of the Construction Technique business area.
“It enhances our customers’ access to our products and services.”