30.11.2012

TVH acquires Mateco

Belgian replacement parts supplier and rental company TVH has acquired Mateco, Germany's second largest powered access company from Odewald & Compagnie.

Berlin-based private equity company Odewald & Compagnie acquired Mateco in 2007 since when it has expanded the company significantly. It now has a fleet of more than 4,800 units operating from 37 locations – 13 of which have been added in the last five years.

The acquisition combined with its existing fleet of more than 10,000 units probably makes TVH the second largest specialist fleet in Europe with around 15,000 units.

TVH’s two main areas of operations include the sale and distribution of spare parts and access rental in the Benelux countries and Eastern Europe. The company said the acquisition will expand its rental business in Germany, Poland and Luxembourg as well as strengthening its pan-European activities.

Pascal Vanhalst, chief executive of TVH, said: “We are pleased that, with the acquisition of Mateco, we are significantly strengthening our specialised rental business in selected European countries. With Mateco, we can double the number of working platforms in our short-term rental fleet. We are also backing Mateco's proven and experienced management team around chief executive Armin Rappen and chief financial officer Hans-Hasso Kersten, who will provide us with strong support in the further expansion of our rental and equipment business."

Rappen added: "With Odewald’s support, we have grown to become a significant player in our geographic markets in the area of access equipment rental services. With TVH, we have now found an ideal strategic partner that will enable us to achieve further solid growth based within a globally active group. We look forward to making an important contribution to TVH's continued success.”

Vertikal Comment

This is something of a surprise, although nothing TVH does should surprise given some of its moves over the past year or two.

Mateco has been one of the top two powered access rental companies in Germany since the earliest days of the industry ..vying with Gardemann- now owned by Lavendon – for market leadership.

The acquisition gives TVH a fleet of approaching 15,000 units, giving it the largest fleet in Europe after Lavendon – although given that a good number of Lavendon’s 18,000 units are in the Middle East the two companies are probably neck and neck in Europe.

You can be sure that TVH’s aspirations in the access rental market do not end here, expect to see more expansion in 2013 - with the company becoming European market leader sometime during the year.