08.06.2016

TVH acquires Industrial Access

Belgian based parts and access rental company TVH has acquired Romania’s Industrial Access from Balkan Accession Fund (BAF) and founder and chief executive Stefan Ponea.

Industrial Access is one of the largest independent powered access rental companies in the region, with eight locations in Romania - two depots in Bucharest along with Timisoara, Cluj, Brasov, Iasi, Constanta and Craiova, plus outlets in Bulgaria and the Republic of Moldova. All offer aerial work platforms, earth moving and compaction equipment, and other material for rental.

Founded by Ponea in 2005, the Balkan Accession Fund bought into the business in 2007 and has been looking to realise its investment for the past year or so. TVH is already established in Romania, having acquired access rental company Romlift in 2013.

TVH chief executive Pascal Vanhalst said: “We are pleased that, with the acquisition of Industrial Access, we are strengthening our specialised rental business, get support for improved operational visibility and excellence, and potentially broaden the range of rental assets we provide to our business partners. We firmly believe that this transaction and the subsequent merger with our existing business will further enhance our services and also result in increased benefits for our customers."

Stefan Ponea added: "We started in 2005 and managed to become a leading player in our geographic markets. We have now found in TVH a perfect partner that will support us to continue our growth.”

The transaction is conditional upon obtaining the approval from the Romanian Competition Council. It is expected to close within three to four months.