26.06.2011

Cramo expands in Sweden

Finnish based international rental company Cramo has acquired Gothenburg based general rental company Tidermans Hyrmaskiner and Tidermans Hyrmec through its Swedish operation.

The two businesses have combined revenues of around €14.2 million with 63 employees. They have four locations in Gothenburg and one depot in nearby Falkenberg. Products include tools, construction and access equipment.

The current owners of Tidermans will stay with the business, taking up leading positions at Cramo after the acquisition. The acquisition comprised a 100 percent equity purchase.

Erik Bengtsson managing director of Cramo Sweden said: “This deal is an excellent strategic match. Tidermans is a good complement to Cramo, geographically as well as customer and competence wise. Our business models and cultures are also similar and we know each other well. However, we have complementing strengths which we can use jointly for the benefit of all our customers.”

Johan Ehk co-owner of Tidermans added: “After many successful years as a strong and independent regional player we see that it will improve our future expansion to be part of a larger group. Since we complement each other geographically and have similar ways of looking at customer service, Cramo is an ideal owner”.

The Hyrmaskiner/Tiderman brands were present throughout Sweden, but Rami Rent acquired the Stockholm operation in 2007 and three more locations in 2010.