PARIS--(BUSINESS WIRE)--Following the communication dated November 18, 2016 announcing exclusive negotiations between the LOXAM Group (LOXAM) and HUNE Group (HUNE), the acquisition of HUNE by LOXAM has been completed on February 6th, 2017.
This operation is very positive for both companies, strengthening LOXAM’s position as the European leader in the European equipment rental industry, and becoming a key player in Spain, as well as expanding its geographical presence in Portugal, in Saudi Arabia and Colombia.
Luis Ángel Salas, CEO of HUNE, said: “I am very satisfied with the closing of this transaction that reinforces and widens the company's growth strategy, which will undoubtedly benefit from the global growth prospects of the LOXAM Group”.
Gérard Déprez, Chairman and CEO of LOXAM, added: “I am very pleased to announce the completion of the acquisition of HUNE, which will allow LOXAM to reinforce its presence and to operate a national branch network in Spain”.
HUNE and its shareholders, sponsored by Norgestion, are advised by Société Générale and Santander, while LOXAM is advised by Rothschild.
LOXAM is the leading equipment rental company in Europe with unaudited pro forma consolidated revenue of €897 million in 2015 and approximately 5,000 employees. LOXAM’s network of 650 branches extends over 11 countries in Europe (France, Germany, the United Kingdom, Ireland, Belgium, Switzerland, Spain, Luxemburg, the Netherlands, Denmark and Norway) as well as in Morocco and Brazil.
More information: www.loxam.com
HUNE is a leading equipment rental company in Spain. It operates a network of 43 branches of which 35 in Spain. The company is also present in Portugal and France, and operates joint-ventures in Saudi Arabia and Colombia.
In 2015, HUNE consolidated revenue amounted to €67 million.
More information: www.hune.com