More for underground customers 18 Jan 2018

Atlas Copco, Swedish provider of construction equipment, has agreed to acquire the assets of Hy-Performance Fluid Power, an Australian manufacturer and provider of hydraulic and drive products for drill rigs, based in Brisbane. The acquisition is expected to complete in the first quarter of 2018 and the purchase price is not being disclosed.

The team from Hy-Performance Fluid Power

“The acquisition of Hy-Performance Fluid Power will help us strengthen our offering to customers working on infrastructure and underground construction,” said Helena Hedblom, President of Atlas Copco Mining and Rock Excavation Technique business area.

Hy-Performance Fluid Power has 26 employees and had revenues of AUD$7.5 million in the fiscal year ending June 30, 2017. The business will join the service division in the Atlas Copco Mining and Rock Excavation Technique business area, and will be listed as Epiroc on the stock exchange in 2018, provided the deal obtains Atlas Copco shareholders’ approval.