Atlas Copco boosts rental business with big US acquisition

Atlas Copco has significantly boosted its Specialty Rental division with the acquisition of National Tank & Equipment (NTE), a US$218 million revenue business that rents pumps, tanks and boxes used in industrial and construction sites.

The seller is private investment company 4-Horn Investments, which created NTE in 2016. The purchase price has not been disclosed.

The deal, which was announced in July and has now been finalised, will add 25 locations in 8 US states. That includes 13 locations in Texas – the HQ is in Houston - four in Louisianna and three in Pennsylvania. It has 349 employees.

NTE’s expertise is in pumps and accessories, tanks, containers and ancillary equipment, and water filtration technology. It customers are in sectors such as energy, infrastructure construction, municipal, industrial and mining.

A pump rented by National Tank & Equipment. (Image: NTE)

Andrew Walker, business area president Power Technique, which includes the Specialty Rental division, said; “I am very pleased to welcome NTE to the Group. With this acquisition we are entering into the specialty dewatering market in the USA, and we are further extending the portfolio of specialty rental solutions we can offer to our customers”

NTS was created in 2016 by 4-Horn Investments, a private investment company led by CEO Rhett Lasserre that focuses on the equipment rental industry.

Lasserre, speaking in July, said; “This transaction culminates nearly a decade of focus on building a world class organization, and it represents an excellent outcome for NTE and its employees.

“I would like to thank the management team and every employee of NTE for their hard work and dedication. Atlas Copco shares our commitment to safety, quality and customer service, and we are confident it will continue to build on the strong foundation we have created.”

Lasserre’s background is in pumps and compressors and equipment rental. From 1997 to 2007 he worked for Service Pump & Compressor, then as a vice president at National Pump & Compressor until its sale to United Rentals in 2014. He was regional product development manager – fluid solutions at United until 2015.