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 MAUD 7.5 (MSEK 50) in the fiscal year ending June 30, 2017.
Atlas Copco announced on January 10, 2018, that it had agreed to acquire the assets of Hy-Performance Fluid Power.
The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
The business becomes 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 mid-2018, provided Atlas Copco shareholders’ approval. To learn more about Hy-Performance Fluid Power, please see http://www.hyperfluid.com.au