Renta completes the acquisition of Høyde-service
Renta Group Oy (“Renta Group” or “Renta”) is pleased to announce the completion of the acquisition of Høyde-Service Utleie AS (“Høyde-Service” or “the Company”). Høyde-Service is a Norwegian general rental company with four depots, more than 20 employees and annual revenues of approximately NOK 90 million.
The acquisition further strengthens Renta’s market position in the Norwegian market, growing our presence in the south-east of the country.
Høyde-Service shares Renta’s customer-centric business model, while its strong track record of profitable growth and complimentary geographic presence makes it an excellent fit for Renta. Høyde-Service will continue to serve its customers with the same local approach and high-quality services as before and further benefit from implementing Renta’s cutting edge digital solutions to enhance their services.
Kari Aulasmaa, CEO of Renta Group, said:
“We are delighted to welcome the Høyde-Service team into the Group. Høyde-Service is an excellent strategic fit for us, with a complimentary presence and local focus to its business. The acquisition is a natural step forward to becoming a fully nationwide player in Norway and is a good platform for further growth in the south of Norway.”
About Renta Group
Renta Group is a Northern European full-service equipment rental company founded in 2015. The Company has operations in Finland, Sweden, Norway, Denmark, Poland, and the Baltics, with 135 depots and approximately 1,500 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 significant supplier of scaffolding and weather-protection services. For more information, visit www.renta.com
Høyde-Service is a Norwegian general rental company founded in 2010, servicing construction, industry, and service sectors. The company has four depots and more than 20 employees. Høyde-Service aims to be a competitive supplier of rental products and services with a particular focus on service, quality and safety. For more information, visit www.hoyde-service.no/
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.
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