Scotland business

Aggreko acquires firm down under

Aggreko site
Image caption The Glasgow-based firm said the acquisition would boost its presence in the Australia Pacific

Temporary power specialist, Aggreko, has agreed to buy a New Zealand firm for £12.7m.

Aggreko said the deal to take over NZ Generator was part of its strategy to strengthen its business in the Australia Pacific.

The Glasgow-based company plans to merge its existing business in New Zealand with its new one and said it would make it the market leader.

Aggreko has more than 5,000 staff in 144 locations worldwide.

It rents generators to provide temporary power and cooling systems for events such as the Olympics and Glastonbury music festival.

Rupert Soames, the chief executive of Aggreko said: "This is the kind of bolt-on acquisition which adds value to our business, and follows the acquisition in December 2010 of Northland Power Services in the United States."

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