Aggreko has acquired Northland Power Services, a leading provider of power solutions for the oil and gas exploration and production market in the Rocky Mountain region of the United States, for about $26 million. Based in Gillette, Wyo., Northland operates out of three locations, has about 57 megawatts of power fleet and has forecast revenues for 2010 of about $12 million.
With the acquisition, Aggreko will have 53 service centers in North America, and more than 800 employees.
The oil and gas market is a key area of focus for Aggreko, both in North America and worldwide. The acquisition gives Aggreko a strong presence in a fast-growing part of the market. Northland brings expertise in providing power to customers developing coal-bed methane and shale oil and gas resources.
“This acquisition gives Aggreko an opportunity to grow in an important sector and develop our relationships with customers in the unconventional oil and gas markets,” said Aggreko chief executive Rupert Soames. “For Northland’s existing customers, it will bring access to a broader range of equipment and services, as well as the resources and expertise of a global power rental business.”
Headquartered in Scotland, with U.S. base in Houston, Aggreko is No. 9 on the RER 100.