Aggreko turns up the heat in North America with new acquisition

PORTABLE power group Aggreko has expanded its presence in the heating, ventilation and air conditioning sector with the acquisition of a firm in the United States.

The Cannock-based group said the purchase of Dryco was in line with its business priorities. The terms of the deal have not been disclosed.

Dryco, which operates from 10 locations in North America, is a specialist in moisture control, drying, heating, and cooling applications within the shipping, manufacturing, food processing, construction, and industrial painting industries. The firm had revenues of $19m in 2015.

The acquisition, which is subject to various conditions, strengthens Aggreko’s capabilities within the HVAC sector. Dryco has a strong customer base spread across a variety of industries.

Dryco, which employs more than 60 people and has 6,000 fleet assets, will become part of Aggreko’s Rental Solutions business.

Chris Weston, chief executive, Aggreko said: “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.

“It also gives Aggreko an opportunity to further support our rapidly expanding customer base within the shipping, food & beverage, and painting & coatings industries.”