Aggreko acquisition sees global growth for local power provider
Power supply and temperature control firm, Aggreko, has completed its acquisition of GE Energy Rentals (GEER), which has expanded its generator fleet by 31%, and its chiller fleet by 28%
Power supply and temperature control firm, Aggreko, has completed its acquisition of GE Energy Rentals (GEER), which has expanded its generator fleet by 31%, and its chiller fleet by 28%. According to the company, the past year has seen unprecedented demand for the Aggreko power rental fleet – both in the Middle East and internationally. From Aggreko’s base in the Jebel Ali Free Zone in Dubai, the company has supported the requirements of the construction, shipping, oil and gas, and utilities sectors across the region.
“The acquisition gives Aggreko an immediate presence in new markets of Chile and Mexico whilst strengthening our position in the Middle East, Asia and Australia. Central and South America is a strategic market for our development and the addition of the GEER fleet and new depots accelerate our growth in these areas,” said Derek Shepherd, managing director, Aggreko International.
“In our more established markets such as the Middle East, Asia and Australia, the acquisition will enable more effective customer support through the expansion of our teams of skilled professionals,” he added.
The process of integration is now underway. The GEER businesses in the UAE, Singapore, China and Australia will be absorbed into existing Aggreko depots. In Chile, Aggreko will take over the GEER facility in Santiago, as well as its bases in Antofagasta (Northern Chile) and Puerto Montt (Southern Chile). In Mexico City and Campinas (Brazil) Aggreko will be opening new depots.
Shepherd also said that the growth of the Middle East as a major sports and events hub would offer a host of new business opportunities.
“The Middle East is becoming an important stage for sporting and entertainment events such as the F1 Grand Prix in Bahrain, the Asian Games in Qatar, numerous international golf tournaments and an increasing number of events from world-famous performers and artists.
“Over the years, both GEER and Aggreko have developed an impressive track-record in delivering power and temperature control rental solutions for the global events sector. There are numerous major international events scheduled for the coming years [and] with this acquisition we are strongly placed to win major energy rental contracts in support of them all,” he added.