International acquisitions for Atlas Copco
Firm to acquire Cate Drilling Solutions LLC in the US and Rockdrill Services Australia Pty. Ltd
ATLAS Copco are to acquire Utah-based Cate Drilling Solutions LLC for an undisclosed sum. The company, which distributes and services Atlas Copco drilling equipment, is active in the US states of Utah, Nevada, Wyoming and Idaho.
Cate employ 35 staff and run a state-of-the-art remanufacturing facility to further meet customers’ needs.
Helena Hedblom, president of mining and rock excavation technique business for Atlas Copco, said: ‘Having the strong team at Cate Drilling Solutions as part of our group will enable us to get to and serve even better our mining customers in central US.’
Elsewhere, Atlas Copco have agreed to acquire Melbourne-based Rockdrill Services Australia Pty. Ltd – a company that develops, remanufactures, services and repairs rock drills for mining and rock excavation.
Rockdrill have 37 employees and recorded revenues of A$14 million in the fiscal year ended 30 June 2017.
Ms Hedblom commented: ‘The competent team at Rockdrill Services Australia will be crucial as we expand our presence in Australia and further increase productivity for our customers.’
Cate Drilling Solutions and Rockdrill Services Australia will be part of Epiroc’s mining and rock excavation service division – a wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in 2018, pending shareholders’ approval.
Both acquisitions are expected to be completed in the first quarter of 2018.