Atlas Copco to acquire French steam boiler specialty rental business
22 December 2017
Stockholm, Sweden, December 22, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire Location Thermique Service SAS, a French steam boiler rental company.
An LTS steam boiler
Location Thermique Service, commonly known as LTS, is based in Carvin in the Haut-de-France region, France. The company rents out steam boilers, which typically are critical in the production process, for customers in the manufacturing, power, chemical, oil and gas sectors. The customers are primarily in France and neighboring countries. LTS has 13 employees and had revenues of about MEUR 7.3 (MSEK 70) in 2016.
"LTS is well known for its high-quality products, strong environmental focus and application expertise" said Andrew Walker, President of Atlas Copco’s Power Technique business area. "This acquisition will further strengthen and expand our rental product offering to customers in all segments."
The acquisition is expected to be completed in the first quarter 2018. The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed. LTS will become part of the Specialty Rental division in Atlas Copco’s Power Technique business area.