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November 11, 2019

Boels makes offer for Cramo

Filed under: Latest News — EHN Team @ 2:01 pm

Boels Rental has entered into an agreement with Finnish hirer Cramo under which Boels will make an offer to buy Cramo from its shareholders.

Netherlands-based Boels, which entered the UK market by buying Supply UK Hire Services in 2017, has more than 4,200 employees and over 450 depots in 11 countries. Cramo has approximately 300 depots across 11 markets.

The combination of the businesses would create a leading player in the European equipment rental market with combined annual revenues of approximately 1,250 million euros. It would also have one of the largest depot networks in Europe, merging Cramo’s Scandinavian and Central European business with Boels’ existing network in other European countries.

Pierre Boels, CEO of Boels said: “Our vision is to build a European leader in the equipment rental market. We have a strong conviction in the strategic combination of Boels and Cramo. The combined company will be a leading player in Europe with a business in 17 countries, and a top-3 position in 12 of those. Our companies know each other well and have a good fit both strategically and culturally.”

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