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Swedish manufacturer Atlas Copco, (STO: ATCOA, ATCOB), Nacka, Sweden, has acquired a compressor distribution and service business from the Lancaster Group in New Zealand. The acquired businesses are those of Ash Air (NZ) Ltd., Fox Air NZ Ltd., MBAR 2011 Ltd. and Ash Air Oil & Gas Ltd.
The businesses, located throughout New Zealand, had combined revenues in fiscal year 2013 of approximately MNZD 30 (US$25 million) and 120 employees. The businesses provide industrial compressors and related equipment.
“By acquiring this group of high-quality distributors we will further expand and strengthen our presence in New Zealand,” said Nico Delvaux, President of Atlas Copco’s Compressor Technique business area. “These businesses will complement our existing organization well and will serve as a strong base for further growth.”
The businesses will be part of the compressor technique business area.