Aggreko


Aggreko plc is a supplier of temporary power generation equipment and of temperature control equipment. It is headquartered in Glasgow, Scotland, United Kingdom. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.

History

Aggreko was founded in the Netherlands by Luc Koopman in 1962. It moved to Scotland in 1973, and was acquired by Christian Salvesen plc in 1984.
It was demerged from Christian Salvesen, and first listed on the London Stock Exchange in February 1997. It announced the departure of chief executive Chris Masters in December 2001, as well as cuts. It was awarded a contract to supply a temporary power station to the country of Sri Lanka in October 2003, called the Aggreko Power Station.
The company acquired substantially all the activities of General Electric Energy Rentals for total consideration of circa US$212m in December 2006. It became the sole supplier for temporary power and temperature controls for the Beijing 2008 Olympic Games in August 2008, and the sole supplier for temporary power for the London 2012 Olympic Games in August 2012.
It was also the provider of temporary power for the Glasgow 2014 Commonwealth Games, and air conditioning and power for the 2017 WNBA Finals. In March 2012, Aggreko acquired 100% of the operations of Poit Energia, a supplier of power generation equipment in Latin America. In July 2017, Aggreko announced the acquisition of battery storage company, Younicos. With a $200m contract, the company was set to provide equipment for the Tokyo 2020 Olympics, until their postponement.

Operations

Aggreko has offices in Western Europe, the United States, Canada and Australia, and smaller numbers of locations in Africa, Latin America, the Middle East and Asia. The items hired out include gas and diesel generators, load banks, heaters, air conditioners and chillers. Aggreko's International Projects business operates out of London from where they can supply power plants to overseas locations. The company also possesses a storage facility in Tokyo.