Finning International Acquires John F Hunter Power Group in U.K.
Dow Jones
Oct 01
Finning International has acquired U.K. generator rental specialist John F Hunt Power Group, expanding its power generation operations in Europe.
The Caterpillar machinery dealer said Thursday that it will absorb a fleet of around 2,500 generator units operated across six depots in the country.
Finning calls the acquisition a big step forward in its growth strategy, and anticipates that its revenue in the U.K. and Ireland power rental segment will more than triple.
The company didn't disclose any financial details of the deal but said it funded the transaction using existing liquidity. It noted the purchase won't have a material impact on its consolidated revenue, earnings or balance sheet.
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