21 Jan 2002 – Aggreko plc, the UK generator supply firm, said today it has expanded into Spain by buying the business and assets of Compresssores Esteve, SA, a privately owned generator rental company based in Barcelona in a deal worth £300 000.
The long-established Spanish firm trades under the name Ecoenergy and employs nine people. It has a strong customer base in the industrial and entertainment markets of northeast Spain. Aggreko plan to replace Ecoenergy?s fleet with its own equipment in due course and sees the acquisition as a launch pad for further expansion in Spain.
Commenting on the acquisition, Dr Chris Masters, chairman of Aggreko, said, “Although relatively small, the acquisition of Ecoenergy provides Aggreko with an excellent base from which to develop the Spanish market where many of our current international customers have a strong presence.”
Europe is currently Aggreko’s strongest market and the company has experienced a very successful year in the region. Head of marketing, Ashley Galbraith said that Aggreko had not been affected by the economic slowdown. “Our good performance could be partly put down to customers looking to Aggreko to provide short-term power solutions rather than commit to capital expenditure,” she said.
In addition to temporary generator power, Agrekko supplies temperature control and oil-free compressed air services from over 120 locations worldwide.