Aggreko's Aquires L&S Industries, Inc., Adds Aggreko Support Services
Aggreko, the nation’s leading supplier of temporary utility rental services, today announced the acquisition of its first-ever agent, L&S Industries, Inc. of Baltimore, MD. The agent acquisition, the first in Aggreko’s history, will transform L&S Industries into an Aggreko equipment rental depot and allow Aggreko to provide expanded technician services through its Aggreko Support Services division.
L&S Industries has been a full rental agent for Aggreko for 12 years, renting equipment and providing technician support services through its Aggreko Support Services division. The acquisition will not only replace the agency with an equipment and services depot, it also will diversify Aggreko, taking the company into the technician services market and expanding the inventory at the Baltimore facility.
John Litsinger and Nelson Laur, co-owners of L&S Industries, initiated the acquisition discussions with Aggreko President Phil Harrower this spring, after deciding upon retirement. The employees of L&S Industries and Aggreko will continue to provide Aggreko services and equipment. L&S Industries has 23 employees.
“We are looking forward to a successful relationship with the employees and customers in this area, and we are excited about our entry into the services sector,” explains Phil Harrower, Aggreko President. “We are proud to continue in L&S’ tradition, utilizing the same group of people from the same location and servicing the same customers, creating a very seamless transition.”
John Litsinger adds, “L&S’ affiliation with Aggreko has been a success story. On November 1, 1999, Aggreko will begin operations in Baltimore with a sales and service force that is second to none. As the millennium approaches, we wish Aggreko all the success in the world as it leads the company forward.”
L&S was founded in November 1983 as L&S Diesel Service. The company grew, repairing and rebuilding diesel and exotic-fueled engines for the off-road and industrial markets. L&S became Aggreko’s first North American agent in 1987. In 1990 and 1991, L&S began to focus on the rental market. Its concentration in the power generation market led L&S to change its name to L&S Industries, Inc., in 1995. In 1998, L&S produced rental sales that represented 47 percent of L&S’ total revenues.
Aggreko is the world leader in temporary utility rental services, specializing in the fulfillment of rental power, temperature and oil-free compressed air needs. With corporate headquarters located in New Iberia, Louisiana, the company has more than 110 locations across the globe to provide quick, reliable, critical utility services.
