Atlas Copco acquires New Zealand-based power renter
21 August 2024
Photo: Atlas Copco
Atlas Copco has announced the acquisition of Generator Rental Services (GRS), a New Zealand-based power rental specialist. No financial details of the transaction have been disclosed.
Founded in 1997 by director Michael Redgrave, GRS employs 58 members of staff and operates three branches in Auckland, Tauranga and Hastings.
The company’s fleet consists of generators, battery energy storage systems, lighting towers, cooling and heating equipment and related accessories. In 2023 it generated €23 million in revenues.
According to Atlas Copco, its main customers are in the power utility, general industry and civil construction industries.
Andrew Walker, business area president Power Technique, said, “The specialty power rental market is a highly technical and regulated market driven by the need for more and more complicated technologies to support the increasing need for electrification in society.
“With this acquisition of GRS we both enhance our expertise in this market and establish a growth platform and competence centre for the whole Oceania region.”
A statement of social from GRS said, “Key benefits of this union include: - Enhanced access to sustainable energy products in line with cO2 reduction goals; Integration of cutting-edge technologies for an improved customer experience; Strengthened industry expertise through global connections with leaders.
“Our focus on being NZs most trusted rental service provider for power, cooling, and heating solutions remains unwavering. The commitment to our stakeholders, both current and future, is our top priority.”
The acquisition is expected to close during the third quarter of 2024, upon which GRS will become part of the Specialty Rental division within the Power Technique Business Area of Atlas Copco.
The division provides portable air and power, industrial and portable flow solutions. Earlier this month the company also added South Africa-based pump specialist Integrated Pump Rental (IPR) to the division.
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