Denmark’s largest crane hirers merge
BMS, the crane and access rental company owned by Contracting firm MT Højgaard has been merged with Kran Ringen A/S the rental company owned by the Jørgen Engaard and Sørensen Engaard families. The new business will continue under the BMS name for “legal reasons”.
In its third quarter report MT Højgaard, which is 54 percent owned by Højgaard Holding and 46 percent by Monberg & Thorsen, declared lower earnings at BMS due to lower activity levels and appear to be keen to dispose or reduce its holdings in a number of its slower performing subsidiaries. It would not be at all surprising to see them sell the remaining 50 percent in BMS if given a decent offer.
Kran Ringen was formed in August 2002 from the merger of Kranløft Aalborg A/S and Helsingør Kraner A/S, the company has specialised in the operation of large cranes and owns both the Largest lattice crane in Scandinavia a Demag CC2800 and the largest telescopic a Liebherr TM 1500 with Y-guy attachment. the Kran Ringen owners also operate a separate business, Kran Ringen Wind, which specialises in the erection of wind turbines which is 50 percent owned by Van Seumeren of Holland.
The merged company will have a fleet of 110 cranes, over 400 aerial work platforms along with the BMS scaffold activity. Annual revenues are expected to be in the DK400 million range (€54 million) with a combined workforce of around 330 staff, operating from 11 locations.
The merger was announced in early November but is effective from October first.