Renta acquires Gustafssons
Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Gustafssons Uthyrning AB (“Gustafssons” or “the Company”). Gustafssons is a Swedish general rental company with three depots located in Oskarshamn, Västervik and Vimmerby. The Company has 19 employees and annual revenues of approximately SEK 45 million.
The Company has a highly complementary geographical presence and is perfectly aligned with Renta’s strategy to strengthen its position in the eastern part of Sweden. The transaction marks another strategic step in building a nationwide network and following the transaction Renta will have more than 60 depots across Sweden.
Gustafssons’ customer-centric business model, solid profitability and strong position in the local market makes it an excellent fit for Renta. Gustafssons will continue to serve its customers with the same local approach and high-quality services as before. The Company will further benefit from leveraging Renta’s full product range and implementing Renta’s cutting edge digital solutions to enhance their services.
The acquisition is expected to be completed during October.
Kari Aulasmaa, CEO of Renta Group, said:
“We are delighted to welcome the Gustafssons team into the Group and look forward to working with them. The acquisition of Gustafssons strengthens our position in eastern parts of the country and is a logical step towards our ambition to build a nationwide rental network in Sweden. We are very pleased to join forces with Gustafssons and look forward to the journey ahead. “
Tomas Gutekrans, CEO of Gustafsson, said:
“We are excited about the possibility to join Renta, a company that shares our values and vision. Being part of Renta will ensure continued high-quality services for our customers, provide a good home for our employees and enable us to take on larger projects and challenges. I am convinced that together with Renta and by continuing to operate our depots in the same spirit as before, we will become even stronger in our region.”
About Renta Group
Renta Group is a Northern European full-service equipment rental company founded in 2015. Renta has operations in Finland, Sweden, Norway, Denmark, Poland, and the Baltics, with 166 depots and over 1,750 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of rental depots, Renta is a supplier of scaffolding and weather-protection services. For more information, please visit www.renta.com
About Gustafsson
Gustafssons Uthyrning AB is a Swedish general rental company, founded in 1975. The Company has three depots located in Oskarshamn, Västervik and Vimmerby. For more information, visit https://brg.nu/
Enquiries: ir@renta.com
Legal Disclaimer
This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this press release, including, without limitation, those regarding Renta or any of its affiliates’ future financial position and results of operations, their strategy, plans, objectives, goals and targets, future developments in the markets in which they participate or are seeking to participate or anticipated regulatory changes in the markets in which they operate or intend to operate. In some cases, these forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “should,” or “will” or the negative of such terms or other comparable terminology.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and are based on numerous assumptions and that Renta or any of its affiliates’ actual results of operations, financial condition and liquidity, and the development of the industries in which they operate, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this press release. In addition, even if Renta’s or any of its affiliates’ results of operations, financial condition and liquidity, and the development of the industries in which they operate, are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.