Energyst dissolved and split between Cat dealers
18 December 2020
Energyst Rental Solutions is being broken up and taken over by four Caterpillar dealers in Europe.
Zeppelin Group has acquired the German and Swedish operations, Pon Equipment and Pon Power will take on the activities in Benelux and Norway, while Finning has acquired Energyst’s operations in the UK and Ireland. Finanzauto takes the Spanish and Mediterranean activities.
The split up of Energyst, which had been one of the largest power and temperature control rental companies in Europe with annual revenues of around US$97 million, comes nine years after the business was created by a joint venture between Caterpillar and Caterpillar dealers in Europe.
The restructuring means that the rental activities will be split between four of Cat’s largest dealers in Europe.
Peter Schrader, Managing Director and COO of Zeppelin Rental GmbH, said; “For us, the expertise of Energyst and the range of generators, transformers, load resistors, air coolers, ventilation and cooling systems, air and space heating systems as well as heat pumps in high performance classes represent an optimal addition to the existing competencies.
“With this decision, we are again securing important competitive advantages and are expecting further growth initiatives for our rental business in the medium term.”
The businesses in Sweden and Germany comprise 40 employees at four locations in Germany (Hamburg, Frankfurt, Duisburg, Leipzig) and two in Sweden (Gothenburg and Stockholm). Energyst has four depots in the UK and one in Ireland.
The activities of the two companies acquired by Zeppelin will continue to operate under the Energyst Rental Solutions name. It is not known if the brand will also be retained by the other Cat dealers involved in the transaction.
Energyst was originally created by pooling the power rental activities of multiple Cat dealers in Europe to create a single power entity. Energyst also expanded beyond Europe for a time, renting power to Chile’s mining sector five years ago.