Centurion Group, a global leader in the supply of specialist rental equipment and services to critical industries is pleased to announce an upsizing of its existing credit facilities by ~$50million taking the group’s overall facilities from ~$330million to ~$380million.
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 ~$100million 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 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 December 10 2024, Centurion also confirms that Euan Leask has now taken up his role as chief executive officer effective from February 1 2025.
He 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 ~$100million 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.”