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Atlas sells RSC for £2bn

PLANT

ATLAS Copco has sold a majority stake in its US hire giant Rental Service Corporation to two American private equity firms for £2 billion.

The deal sees Ripplewood Holdings and Oak Hill Capital Management take a 85.5 per cent majority holding, with Atlas retaining 14.5 per cent.

Rental Service Corporation had a turnover in the year to June 30 of $1.58 billion and a workforce of 5,100.

Atlas is now expected to seek further acquisitions to add to its broad portfolio of drill rigs to demolition hammers .