28.10.2010

Cramo buys Lambertson Oy

Cramo is to acquire the majority of Lambertsson Oy's rental fleet and has signed exclusive five-year rental agreement with its owner Peab, for the Finnish market.

Lambertsson Oy is Peab’s rental operation in Finland, the agreement includes equipment rental and modular space rental. It has rental locations in Nurmijärvi, Ylöjärvi and Turku. The fleet range is similar to Cramo's and the customers largely construction related. Cramo is taking on all 15 employees and the entire rental business apart from Lambertsson's tower crane, hoist and mast climber business.

Tatu Hauhio who heads Cramo Finland said: “Peab is a major customer and partner to Cramo Group in several markets. In Finland we have a long and strong relationship which is now further deepened through this agreement. Long-term outsourcing arrangements like this are built on mutual trust and the conviction that it is beneficial for the growth and future development of both parties.”

At the same time, Peab Sweden will acquire the Cramo Entreprenadmaskiner - heavy operated equipment division in the Sweden. Peab and Cramo have simultaneously extended their existing rental agreements in the Swedish market for another five-year period.

Cramo Entreprenadmaskiner has a fleet of 35 wheel loaders, excavators and telehandlers, but also serves as a broker for independent subcontractors. The operation has 34 employees and annual revenues of just under €15 million.

Erik Bengtsson, head of Cramo Sweden said: “Cramo Entreprenadmaskiner is a stable and profitable business. From our perspective the rationale is that Peab can offer the company good possibilities to grow more rapidly. At the same time we can develop our relationship with Peab and free up resources from this non-core service operation.”