13.08.2010

Cramo acquires Nordic Crane division

Finnish based international rental company Cramo has acquired Hego Maskinutleie from Nordic Crane and signed a five year supply agreement.
Cramo expects the deal, which covers the entire Nordic region, to be worth around NK100 million (€12.5 million).

Hego rents aerial lifts and telehandlers – largely JLG, along with skid steer loaders and mini excavators.

Nordic Crane was established as a joint holding company in 2008 by Kynningsrud Kran and Stangeland Kran. It has bases in Norway and Sweden and had revenues in the region of €88 million last year. Click here to see original report
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One of Hego's delivery trucks

Cramo chief executive Vesa Koivula, said: “The Norwegian deal clearly supports our view of increasing activity in the Nordic construction sector. During the summer we have closed five major deals in Finland, Sweden and Norway. Three of them are outsourcing agreements - a new trend showing that not only the very largest, but also the mid-sized construction companies are interested in outsourcing their equipment handling. Obviously the rental industry benefits from both these trends, particularly companies like Cramo who has the capacity and resources to supply all equipment and services needed.”

Finn Løkken, managing director of Cramo Norway added: “Nordic Crane Group is one of the leading mobile crane suppliers in Scandinavia and this new cooperation agreement will offer our customers an even better service and product range in the Nordic region. Bergen is also an important investment area for us. Acquiring Hego Maskinutleie AS strengthens our presence in and around Bergen area.”

Nordic crane’s chief executive Trond Helge Skretting said: “We have great expectations of this agreement. With their customer portfolio and distribution network, Cramo will offer Nordic Crane Group AS an opportunity to increase our expansion in the Nordic region.”