Power generation and HVAC specialty rental giant Aggreko has acquired Dryco LLC of Chicago for an undisclosed sum. Dryco was founded in 2000, and specializes in moisture control, drying, heating and cooling applications within the shipping, manufacturing, food processing, construction and industrial painting industries.
Dryco has 10 full-service locations in North America, and has built a strong customer base in its targeted industries, which complement Aggreko’s growth strategy. The acquisition will add more than 60 experienced employees to Aggreko’s fleet and about 6,000 specialized assets.
“This acquisition of Dryco combines the deep technical strength of two highly respected market leaders and provides our customers with an unparalleled range of services that address their HVAC and moisture control needs,” said Mel Parker, managing director of Aggreko North America. “We are pleased to have Dryco join the Aggreko team, enabling us to accelerate growth and meet the rapid demand for our services in the shipping, food and beverage, and painting and coating industries.”
“Dryco is excited to join forces with Aggreko to become the leading provider of drying and dehumidification services,” said Joe Schroeder, Dryco CEO. “Our teams share the same passion and commitment to service excellence, and we look forward to working together to further grow Aggreko’s business.”
Aggreko said it plans to fully integrate Dryco operations into its North America business and is developing expansion plans to enter additional sectors and global markets.