Aggreko plc, the global leader in the supply of temporary power and temperature control solutions, has completed the acquisition of Generator Hire Service (“GHS”) via subsidiary Aggreko Generator Rentals Pty Ltd, a provider of specialised rental equipment in Australia. The total consideration is $5 million (£2.7 million); in the calendar year 2017, GHS had revenues of approx. $4 million (£2.165 million). The agreement is contingent on the satisfaction of a number of pre-closing conditions usual for a transaction of this type.
The acquisition of Generator Hire Service supports Aggreko’s strategy to expanding its local businesses; the operations of Aggreko’s existing business in Australia will be merged with those of GHS and the combined entity will provide a niche distribution offering and capture a greater portion of market share in the events rental industry.
Headquartered in Brisbane, GHS began operations 30 years ago and has built a strong customer base within the entertainment and event broadcast sectors in Australia. GHS hires out specialised truck-mounted generators providing 12.5MW of power, GHS holds several long-term contracts for events, as well as production/maintenance sector clients such as Cummins.
“We are proud to have grown GHS into a premier rental company," said Peter Walden, Founder and Managing Director of Generator Hire Service. "Aggreko is an ideal strategic fit for GHS, and I look forward to sharing the journey as they continue to grow the business.”
GHS’s service offerings and ethos match very closely with those of Aggreko: a reliable, responsive service with 24/7 availability, use of quality equipment and a strong commitment to safety. The acquisition of GHS by Aggreko will serve to enhance the exceptional range of expertise and equipment available to new and existing customers in Australia Pacific, which will trade under the Aggreko brand name.
Chris Weston, Aggreko CEO said: “We are delighted to have this opportunity to strengthen our business in Australia, and we look forward to welcoming the employees of Generator Hire Service to the Aggreko family. This acquisition not only adds value to our business but also brings a team with years of entertainment industry experience.”
“The addition of a new service centre along with the expert GHS team to our business will make Aggreko’s rental power and temperature control services even more convenient for customers,” said George Whyte, Managing Director Aggreko Australia Pacific.
Generator Hire Service - now with Aggreko’s support - will continue to maintain seamless operations and provide exceptional customer service and an integrated platform for expanded rental power from the company’s locations across the Australia Pacific.