Atlas Copco continued its acquisition of European specialty rental companies last week with the purchase of Kolfor Plant Ltd., based in Dundee, Scotland. Kolfor, established in 1973, rents equipment to the oil and gas industries, specializing in generators, compressors, sub-sea dredge and blast equipment and other items.
“The Kolfor name is well known as a leader in generator and compressor rental to the oil- and gas industries,” said Geert Follens, president of Atlas Copco’s portable air division. “It will support Atlas Copco’s developments in this highly specialized market.”
Stockhold, Sweden-based Atlas Copco, which also owns Rental Service Corp., the second largest rental company in the United States, has recently made several international acquisitions in the portable air division, including Guimera in Spain, Abird in the Netherlands and Rand-Air in South Africa.
Kolfor has annual revenues of about $6.7 million. The company will operate within Atlas Copco’s Compressor Technique business area.
Although the terms of the transaction were not disclosed, media sources in the United Kingdom said Atlas Copco paid more than $12 million for Kolfor, a 31-year-old company that capitalized on the growth of the oil and gas industry in the North Sea and has penetrated markets in West Africa, South America, Asia, Australia and the Caspian Sea. Chairman and founder John Beaton will remain as a consultant and, sources said, the company will keep its headquarters in Dundee.