NZ Generator Set to Sell to Global leader

NZ Generator Set to Sell to Global leader

NZ Generator, New Zealand’s largest supplier of rental generators, has entered into an agreement to be acquired by Aggreko plc, the global leader in the supply of temporary power and temperature control for a total consideration of NZ$27.5million.

After beginning in 1990 with the purchase of just one generator, NZ Generator is delighted to take the business to the next level of growth with Aggreko.

NZ Generator was approached by Aggreko in late 2010 and it was clear that the move would be an excellent strategic fit. There are strong synergies in service offerings between both companies; including superior customer service; a reliable, responsive operation with 24/7 availability, use of quality equipment and a strong commitment to safety.

Headquartered in Glasgow, Scotland, Aggreko operates out of 144 countries and employs more than 4000 staff worldwide. In addition, Aggreko are listed on the London Stock Exchange and are a member of the FTSE-100.

“Our very first job was to supply power for welding equipment to repair cracks on Auckland’s Harbour Bridge,” Philip Lendich, Managing Director of NZ Generator says. “The contract lasted six months, which was followed by a job to provide power for a Japanese trawler while at port. “So we knew there was market for rental power,” he says.

Over the first few years, the father and son team of Victor and Philip Lendich focused on shipping, supplying generators to refrigerate containers on cargo ships. “It wasn’t until the end of the 1990’s that we concentrated on land based generators,” says Philip.

The company’s first Pacific Island project was in Tonga in 1999 providing power to the Island of Va’vau for three months while they built a new power station. There are now several major long term projects in the Pacific Islands, focusing mainly on prime power.

NZ Generator has five branches throughout New Zealand and employs around 40 staff who will continue to operate under Aggreko once the agreement - contingent on the satisfaction of usual pre-closing conditions – is finalised. “We are a family company and our staff are like family, so we are delighted to be able to offer enhanced opportunities and growth with Aggreko,” Philip says.

Philip Lendich, Managing Director of NZ Generator, will continue to lead the New Zealand and Pacific business in the role of Area General Manager, NZ – Pacific, for Aggreko. “I am excited about the move as we will have unrivalled resources and technical support to call on. This will be great for customers as we expand and enhance our service capabilities.”

NZ Generator’s service to customers will continue under the Aggreko name once purchase is finalised.

-Ends

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