17.02.2017

Loxam acquires Lavendon

Loxam has gained acceptances from shareholders owning 91.5 percent of the outstanding Lavendon shares and it has now applied for compulsory acquisition of the remaining 8.5 percent of the shares. Loxam has also applied for the delisting of Lavendon shares on the London Stock Exchange.

Gérard Déprez, president of Loxam said: “We are very happy to officially announce that our offer to acquire Lavendon has been successful. Lavendon is a leading business with longstanding and complementary positions and I am delighted that we will be joining forces going forward. This move is consistent with our strategy to build a geographically balanced business and increase our market share where we are already active. I am very much looking forward to working closely with the talented and experienced management team and employees of Lavendon to build together a reference player in our industry.”

Don Kenny, Lavendon Group CEO said: “This acquisition reflects the hard work and commitment of the Lavendon Group management and staff. Lavendon offers Loxam a strong and efficient engine for growth in the powered access market and I believe the combined strength of our two organisations will provide customers with a global network of professional expertise and experience.”

The combination of Loxam and Lavendon creates a global player with a dedicated powered access fleet of about 45,000 units across 21 countries with revenues of more than £1.1 billion.