PARIS--(BUSINESS WIRE)--Loxam Group (“Loxam”) announces that it has signed an agreement to acquire the activities of the Italian powered access equipment rental company Nacanco SpA (“Nacanco”).
Founded in 2001, Nacanco is a leader of the Italian market for powered access equipment rental. The company operates a network of 14 branches located in the northern and central regions of Italy. Nacanco generated a revenue of EUR 27 million in 2016.
This transaction enables Loxam to enter the Italian market, thereby consolidating its presence in Western Europe, as well as on the powered access market.
The Giusto family, founding shareholder of Nacanco, will remain a 20% shareholder in the company and will continue to support the future development of Nacanco, alongside Loxam.
Gérard Déprez, President of Loxam said: “We are delighted by the forthcoming acquisition of Nacanco, which completes our footprint in Western Europe. Nacanco is a well-established player which has contributed to the development of the Italian equipment rental market, thanks to an ambitious growth strategy. We look forward to working with its management team and employees.”
Marzia Giusto, General Manager of Nacanco, added: “Since its foundation 16 years ago, Nacanco has built a leading franchise on the powered access rental market, thanks to the commitment of its shareholders and its staff. This transaction marks the beginning of a new development phase for Nacanco. I am confident that our integration within the Loxam Group will enhance our capacity to consolidate and develop our market position.”
The completion of the transaction, which is subject to the satisfaction of certain conditions, is expected to take place before the end of the year.
LOXAM is the leading equipment rental Company in Europe with unaudited proforma consolidated revenue of €1,330 million in 2016 and approximately 7,200 employees. LOXAM’s network of more than 720 branches extends over 12 countries in Europe (France, Germany, the United Kingdom, Ireland, Belgium, Switzerland, Spain, Portugal, Luxemburg, the Netherlands, Denmark and Norway) as well as in the Middle East, Morocco and Brazil.
More information: www.loxam.com