Atlas Copco reached an agreement to acquire the assets of Salt Lake City-based Cate Drilling Solutions LLC, a company that distributes and services Atlas Copco drilling equipment and components.The acquisition is expected to be completed in the first quarter 2018.
Cate Drilling Solutions is active in the states of Utah, Nevada, Wyoming and Idaho. The company is an Atlas Copco full-service distributor for surface drilling products. It also has a state-of-the-art remanufacturing shop that further serves customers’ needs.
“Having the strong team at Cate Drilling Solutions as part of our Group will enable us to get closer to and serve even better our mining customers in [the] Central United States,” said Helena Hedblom, president of Atlas Copco’s Mining and Rock Excavation Technique business area.
The financial terms of the proposed acquisition have not been disclosed.
Cate Drilling Solutions will be part of the Mining and Rock Excavation Service division in Epiroc, the wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in 2018 provided shareholders’ approval.