Stockholm, Sweden-based Atlas Copco North America USA last week signed an agreement with Grimmer Industries USA to acquire its Hurricane booster and GrimmerSchmidt portable compressor business. With the acquisition, Atlas Copco will meet the growing demand for high-pressure products used in the oil and gas industries.
The acquired business includes 90 employees and had revenues of U.S. $25 million in 2007. It manufactures, sells and services compressed air and gas booster compressors, natural gas boosters and portable air compressors under the brands of Hurricane and GrimmerSchmidt.
“We have seen increased demand for higher pressures from customers in oil and gas industries,” said Ronnie Leten, business area president, Atlas Copco Compressor Technique. “The Hurricane boosters directly meet this demand and are an excellent complement to our offer. The acquisition is a strategic step to strengthen our position in these market segments.”
Grimmer Industries is privately owned and is based in Franklin, Ind. Atlas Copco intends to retain the operations at the current location. The business will be operated by the newly formed legal entity with the name Atlas Copco Hurricane LLC, within the Portable Air division.
The parties have agreed not to disclose the purchase price. The deal is expected to close in mid-May.
Atlas Copco is a world-leading provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental.
Portable Air is a division within Atlas Copco’s Compressor Technique business area. It develops, manufactures and markets portable compressors, and generators for prime or standby power worldwide. Products are offered to the construction, rental and general industries under several brands. The divisional headquarters and main production center are located in Antwerp, Belgium.
