LONDON (Alliance News) - Temporary power provider Aggreko PLC on Tuesday said it has agreed to acquire the assets of North American moisture control, drying, heating and cooling applications specialist DRYCO LLC.
Aggreko said DRYCO is focused on the shipping, manufacturing, food processing, construction, and industrial painting industries and will boost its product offering, in particular in supplying specialist HVAC equipment.
No financial details on the agreement were disclosed, but Aggreko said DRYCO made USD19.0 million in revenue in 2015.
"This acquisition combines the deep technical strength of two highly respected market leaders and provides our customers with an unparalleled range of solutions that can address their HVAC and moisture control needs," said Aggreko Chief Executive Chris Weston.
"It also gives Aggreko an opportunity to further support our rapidly expanding customer base within the shipping, food & beverage, and painting & coatings industries," he added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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