Atlas Copco completes acquisition of South African exploration manufacturing business
Atlas Copco, a provider of sustainable productivity solutions, has completed the acquisition of the assets of Renegade Drilling Supplies Proprietary Ltd., a South African manufacturer and distributor of drilling consumables for mining exploration.
Renegade Drilling is based in Johannesburg, South Africa, and sells its products throughout the Southern African region.
The company manufactures and distributes mining exploration drilling consumables, such as drill rods, in-the-hole tools and diamond drill bits. It has 22 employees.
Atlas Copco announced on December 4, 2017, that it had agreed to acquire the assets of Renegade Drilling.
The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed. The business becomes part of the Rock Drilling Tools division in Epiroc, the wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in 2018 provided shareholders’ approval.