On 9 December 2022, Crestchic plc and private equity-backed, Aggreko Limited, announced that they have reached an agreement on the terms and conditions of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Crestchic by Aggreko.
Crestchic, a fast-growing business that provides specialist power reliability equipment that are used in the maintenance of independent off-grid power sources, issued three earnings upgrades this year after enjoying a record level of sales. Crestchic owes its success to increased demand driven by high levels of data centre activity globally and higher than expected demand from the oil and gas sector, predominantly in the Middle East and Asia, as national energy policies changed tack in response to geopolitical uncertainty and the surge in fossil fuel prices.
Crestchic plc (LON:LOAD) hires and sells specialist power reliability equipment. With a product range comprising a wide range of loadbanks and transformers and depots, offices or agents in the UK, USA, The Middle East, Belgium, Germany, France, Singapore, China and South Korea, Crestchic has a global customer base.