Atlas Copco has agreed to acquire the assets of Hy-Performance Fluid Power Pty Ltd, an Australian service provider for mining and infrastructure. The business will be part of the service division in the Mining and Rock Excavation Technique business area, which will be listed as Epiroc on the stock exchange in 2018, provided Atlas Copco shareholders’ approval.
Hy-Performance Fluid Power is based in Brisbane, with sales mainly in Australia. The company provides remanufacturing, service and repair of hydraulic components for drill rigs. It has 26 employees and had revenues of A$7.5 million in the fiscal year ending June 30, 2017.
“The strong team at Hy-Performance Fluid Power will play an important role as we continue to strengthen our value offering to mining and infrastructure customers,” said Helena Hedblom, President of Atlas Copco’s Mining and Rock Excavation Technique business area.
The acquisition is expected to be completed in the first quarter 2018. The purchase price is not material relative to Atlas Copco’s market capitalisation and is not disclosed.
Hy-Performance Fluid Power has successfully manufactured and supplied hydraulic and drive products to the Australian mining industry since 1994. It says: “We are a ISO9001:2008 certified company based near Brisbane. Our products have been improved and tested over time, and our customer’s value that they can continually purchase products that make a bottom line difference to their mining operations. Suppliers stock and promote our products for their improved efficiency, reliability and extended warranty over OEM products. We stock one of the largest warehouses of parts exchange blast hole drill components (pumps, motors, gearboxes, rotary heads, valves, kits) anywhere in the world.”
Its purpose built drill building facility provides MDG compliant drill rig builds, re-builds and overhauls for the mining sector. “Recent innovations and product improvements include our FOPS certified, lighter weight, ergonomically and safety enhanced drill cabs for operator comfort and safety, and the latest technological innovation in touch operated screens, diagnostics of hydraulic and electronic systems. Mining customers Australia wide purchase our Hy-Power fail to safe brakes for improved safety and reliability.”