PARIS--(BUSINESS WIRE)--Loxam Group (“Loxam”) announces the acquisition of the Danish equipment rental operations of Cramo Plc (“Cramo”). The transaction is structured as an asset deal whereby all assets belonging to Cramo’s Equipment Rental operations in Denmark, including rental equipment, inventory, customer contracts and lease contracts for the seven branches are acquired by Loxam. Employees attached to the activity will join Loxam. In 2016, sales of the acquired perimeter amounted to DKK 149 million (EUR 20 million). Cramo will retain its existing Danish modular building rental business (‘Modular Space’).
This transaction enables Loxam to consolidate its position among the leaders in the Danish equipment rental market, where it has been present since 2007 and currently operates 24 branches.
Gérard Déprez, President of Loxam states: “I am pleased to welcome Cramo Denmark’s experienced employees into the Loxam group. Together we will join forces to provide our customers with the best possible service through an expanded network, and build a reference company in the Danish equipment rental market.”
“The decision to divest our Equipment Rental in Denmark is in line with Cramo’s new strategy Shape and Share, which aims towards a leading position in all Cramo markets. In the future, we will focus our investments on the potential in our Modular Space offering in Denmark”, says Leif Gustafsson, President and CEO of Cramo Group.
The transaction is subject to closing conditions and is expected to be completed by 31 August 2017.
About LOXAM
Loxam is the market leader in the
rental of equipment and tooling for building, public works and industry,
with pro forma turnover of 1.3 billion euros in 2016 and a workforce of
more than 7,300 employees. Its network of 750 branches extends across 21
countries on 4 continents: in Europe (France, Germany, United Kingdom,
Ireland, Belgium, Switzerland, Spain, Portugal, Luxembourg, the
Netherlands, Denmark and Norway), and also in Africa (Morocco), Latin
America (Brazil and Colombia) and the Middle East (Saudi Arabia,
Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates).
About CRAMO
Cramo is Europe’s second largest
rental services company specialising in construction machinery and
equipment rental and rental-related services as well as the rental of
modular space. Cramo operates in fifteen countries and in about 324
depots. With a group staff around 2,600, Cramo’s consolidated sales in
2016 was EUR 712 million. Cramo shares are listed on Nasdaq Helsinki Ltd.
More information: WWW.LOXAM.COM
More information: WWW.CRAMOGROUP.COM