- ~$100m of firepower for acquisitions and strategic capex investments
- Completion of two acquisitions in USA and Australia for ~US$25m
- Euan Leask becomes CEO from 1 February
Centurion Group (“Centurion” or “the Group”), a global leader in the supply of specialist rental equipment and services to critical industries, today publishes the following business update.
The Group is pleased to announce an upsizing of its existing credit facilities by ~$50m taking the Group’s overall facilities from ~$330m to ~$380m.The additional credit facilities have been provided by ATB Financial, HSBC, The Royal Bank of Scotland, The Toronto-Dominion Bank, Wells Fargo Bank and Virgin Money to increase Centurion’s firepower to ~$100m for acquisitions and strategic capex investment in 2025.
This follows the completion of two strategically important acquisitions for the Group. At the end of 2024, Centurion acquired Althoff Crane Service Inc. and Buffalo Ridge Transport Inc. (together, “Althoff”). Althoff is a Minnesota-based crane rental company delivering heavy lifting solutions to onshore windfarm projects across the US Midwest. With cranes ranging from 50T to 715T, Althoff’s best-in-class wind turbine repair and maintenance services increases Centurion’s renewables capabilities in the US onshore wind market.
The Group also announces the acquisition of WestWater Enterprises (“WestWater”) in Australia. WestWater specialises in potable water treatment systems for municipal and industrial processes, and further strengthens Centurion’s existing water and wastewater business in Australia.
To date Centurion has completed 20 acquisitions, in the UK, US, Canada, Europe, UAE and Australia since the Group came together in late 2017, and is building momentum with 10 of these acquisitions over the last three years.
Acquisitions are central to the Group’s growth strategy and to accelerate its expansion into structurally growing end markets such as renewables, minerals, infrastructure, environmental, defence and government. Looking ahead, the Group has an active pipeline of further acquisition opportunities, to complement our operations in UK, Europe, Canada, US, Middle East and Australia.
Further to the announcement of 10th December 2024, Centurion also confirms that Euan Leask has now taken up his role as Chief Executive Officer effective from 1st February 2025.
Euan Leask, Chief Executive Officer, said:
“This is a very exciting time to be taking the helm at Centurion Group.
“Through a combination of organic growth and targeted acquisitions, the business is transforming into a global multi-industry rental and services business, which is well positioned for the future.
“The upsizing of our credit facilities further strengthens our financial position and provides us with ~$100m of firepower for future acquisitions in high growth end-markets.
“Althoff and WestWater are strong additions to the Centurion family. We are excited to welcome the teams to Centurion and we look forward to partnering with both businesses to support their growth ambitions.
An exciting new chapter for Centurion is beginning. We are privileged to have a great investor in SCF Partners and I look forward to working closely with them and our Board to continue to grow Centurion. I am confident the business is well positioned for 2025 and beyond.”
Enquiries:
Teneo
Martin Robinson / Camilla Cunningham / Nina Chatrath-Saglani
+44 (0) 207 260 2700 / centurion@teneo.com
About Centurion Group
Centurion is a global leader in the supply of rentals and services to a range of critical industries, for complex, challenging and remote locations. It combines the scale and the breadth of offerings in five main regions: the US, Canada, UK & Europe, Middle East & North Africa, and Asia Pacific, with strong local presence in key energy markets to deliver value to customers around the world. For more information, please visit www.centuriongroup.co.uk.
