Aggreko Acquires DRYCO, LLC
August 09 2016 - 10:15AM
Business Wire
Acquisition allows for North American expansion
of drying and dehumidification services
Power generation and HVAC specialty rental company, Aggreko plc,
has acquired DRYCO, LLC of Chicago, Illinois for an undisclosed
amount. DRYCO was founded in 2000, and specializes in moisture
control, drying, heating, and cooling applications within the
shipping, manufacturing, food processing, construction, and
industrial painting industries.
It has 10 full-service locations in North America, and has built
a strong customer base in its targeted industries, which complement
Aggreko’s growth strategy. The acquisition will add more than 60
experienced employees and approximately 6,000 specialized assets to
Aggreko’s fleet.
“This acquisition of DRYCO combines the deep technical strength
of two highly respected market leaders and provides our customers
with an unparalleled range of services that address their HVAC and
moisture control needs,” said Mel Parker, Managing Director,
Aggreko North America. “We are pleased to have DRYCO join the
Aggreko team, enabling us to accelerate growth and meet the rapid
demand for our services in the shipping, food and beverage, and
painting and coatings industries.”
Joe Schroeder, CEO of DRYCO, said: “DRYCO is excited to join
forces with Aggreko to become the leading provider of drying and
dehumidification services. Our teams share the same passion and
commitment to service excellence, and we look forward to working
together to further grow Aggreko’s business.”
Aggreko plans to fully integrate the operations of DRYCO into
its North America business and is developing expansion plans to
enter additional sectors and global markets.
EDITOR’S NOTES
Aggreko plc is the leading global provider of modular, mobile
power and adjacent product solutions. Aggreko employs more than
7,300 people operating from 204 locations. In 2015 we served
customers in about 100 countries, and had revenues of approximately
GBP 1.6bn (USD 2.6bn or Euros 2.0bn). Aggreko plc is listed on the
London Stock Exchange (AGK.L) and is headquartered in Scotland.
Aggreko is comprised of two business units: Rental Solutions and
Power Solutions.
In the Rental Solutions business, we operate in developed
markets and develop solutions for, and hire our equipment to,
customers who then operate it for themselves, although we retain
responsibility for servicing and maintaining it. We operate across
all sectors in the market, but are heavily involved in oil and gas,
petrochemical and refining, mining and events.
In the Power Solutions business, we operate in emerging markets
as a power producer. We install and operate modular, mobile power
plants for both utility and industrial customers and we charge both
for providing the generating capacity, and for the electricity we
produce. In our Industrial business, as in Rental Solutions, we are
market leaders in oil and gas, petrochemical and refining and
mining, whilst our utility business helps countries solve their
power shortages.
We design and manufacture equipment specifically for these
requirements in our factory in Dumbarton, Scotland.
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version on businesswire.com: http://www.businesswire.com/news/home/20160809005933/en/
Ward for AggrekoMolly LeCronier,
713-869-0707Vice
Presidentmlecronier@wardcc.com
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