Aggreko backs £2.3bn takeover bid from private equity firms Aggreko backs £2.3bn buyout offer from private equity firms UK equipment rental company Aggreko said this morning it endorses a £2.32bn buyout offer from private equity firms TDR Capital LLP and I Squared Capital. The company said the offer of 880p per share represents a premium of about 39 per cent to its 4 February share price. No more details were announced. Chairman Ken [...]
Aggreko trading on track thanks to Winter Olympics and Ryder Cup Power generator supplier Aggreko today reported trading in line with expectations for the nine months to the end of September, boosted by contracts with the Ryder Cup and Winter Olympics. The figures Total underlying revenue was up 11 per cent. Underlying revenue for the rental solutions division, which makes up 52 per cent of the [...]
Aggreko to split itself into two new business units after review Power services firm Aggreko is splitting in two, separating its rental business from its power business. As part of a company review, announced in March, the board has decided to move the group from its current regional structure to the new structure, which will comprise of Aggreko Rental Solutions and Aggreko Power Solutions. Aggreko, which [...]
Morrisons stays in the FTSE 100 as Aggreko drops out and Inmarsat is promoted June 3, 2015 Troubled supermarket Morrisons held on to its listing in the FTSE 100, while power outsourcer Aggreko was given the boot as part of the index's quarterly reshuffle. Satellite maker Inmarsat will replace the company, which in recent months has been hit by the strength of the pound. Meanwhile, a trio of challenger banks, including Aldermore, [...]
Aggreko share price jumps despite revenue hit by strong pound November 14, 2014 If Aggreko is missing former boss Rupert Soames, it isn't showing it. Shares in the temporary power provider rose more than four per cent in early trading, as the company announced third-quarter figures in line with expectations. Soames, the grandson of Winston Churchill, departed earlier this year to take the helm at embattled outsourcer Serco. [...]
Strong pound hits Aggreko’s profits in first half of the year August 5, 2014 TEMPORARY power provider Aggreko yesterday posted a nine per cent fall in first-half profit, with the effects of a strong pound offsetting high-profile contract awards such as the World Cup. But shares in the FTSE 100 firm climbed around three per cent in early trading, with the nine per cent decline in profit to £130m [...]
Aggreko reports strong growth in first half August 5, 2014 Aggreko has revealed strong underlying revenue growth for the six months to 30 June. The power generation company said that its underlying revenue and trading profit went up 12 per cent and six per cent, respectively. The company cited power projects as being especially encouraging with a revenue growth of 14 per cent. [...]
Aggreko slips on muted analyst outlooks June 9, 2014 Temporary power provider Aggreko’s share price edged down a little today, on a downgrade from Panmure Gordon and a cautious report from Liberum. The FTSE 100 firm, which supplied power for the 2012 London Olympics and will provide energy for this year’s football World Cup in Brazil, saw its share price fall 0.7 per cent [...]
British Gas boss Weston hired as Aggreko chief May 29, 2014 CENTRICA yesterday confirmed that the head of its supply arm British Gas will be leaving to join Aggreko, meaning that it now has to find replacements for its top three executives. The FTSE 100-listed energy giant said that Chris Weston has tendered his resignation to become chief executive of Aggreko, the temporary power provider, subject [...]
Centrica loses MD for the top job at Aggreko May 29, 2014 Aggreko, the temporary power hire company, has appointed Chris Weston as its new chief executive officer, confirming reports leaked last night. He has handed in his resignation at Centrica, where he was managing director of the company's international downstream division. Weston will replace Rupert Soames, who has taken the top job at Serco, after 11 [...]