03.03.2005

Lavendon sells Zooom Austria

The Lavendon Group plc, owner of Nationwide Access in the UK, Zooom in continental Europe and Rapid Access in the Middle East, has sold its Austrian business, Zooom Arbeitsbuhnen Vermietung GmbH for £2.65 million in cash.

The purchaser is Felbermayr, the crane Access and heavy transport company, and the second largest aerial lift rental company in Austria.

The sales value represents net book value, following the restructuring provision made in December 2004. The deal includes 248 aerial lifts and a network of four depots.

Revenues for the Austrian business in 2004 were £2.1 million with an operating loss of £300,000, prior to exceptional provisions.