Ramirent acquires SRV Kalusto
Ramirent Finland has acquired the SRV Kalusto equipment division of the SRV group, the deal includes a long-term co-operation/supply agreement.
Ramirent has paid €21 million for the company in an all-share purchase transaction, the business employs 33 and is debt free. SRV Kalusto operates as an internal equipment rental company within the SRV covering around 25 percent of the group’s requirements. It generated revenues of €8 million last year. The business will continue to operate as a separate unit, but will change its name to Rami Kalusto. The supply deal will cover a “significant share of SRV's annual equipment rentals” which based on the numbers given could be as high as €32 million a year.
SRV is a full service construction company which operates across Finland, Russia and Estonia. Last year it had revenues of €1.1 billion.
Mikael Kämpe, managing director of Ramirent Finland said: "In line with our strategy, Ramirent is seeking for profitable growth in our core equipment rental business. The agreement announced today perfectly supports our targets and strengthens our leading position in Finnish construction equipment rental market."