Spanish sales and rental company General de Alquiler de Maquinaria (GAM) has acquired forklift specialist Recamasa for €7 million.
Founded in 1985, Recamasa sells, rents and supports forklifts throughout Spain from its base in Torrejón de Ardoz, on the North East side of Madrid, where it has a 2,200 square metre warehouse plus offices, a showroom, and workshops. It runs a rental fleet of 400 forklifts, eight mobile service vehicles and is the distributor for Yale forklifts in Madrid, Cuenca, Toledo, Cáceres, Guadalajara and Ciudad Real. In 2020 it had revenues of €7 million with profits of €1 million.
GAM chief executive Pedro Luis Fernández added: “The purchase of Recamasa is part of our growth strategy, and we are taking another step forward in our consolidation as a leader in the industrial machinery sector. We are delighted to add to our team the expertise of a company with a great human team, to which we have always had great respect for its great performance and recognition in the sector.”
Recamasa chief executive Ángel López, added: “This operation represents a step towards the future, always backed by the talent and knowledge we have in the sector, especially in electrical and indoor industrial machinery.”
Established in 2003, GAM is one of the leading equipment rental companies in Spain and Portugal, while it also operates in Chile, Colombia, Mexico, Panama, Peru, Dominican Republic, Morocco and Saudi Arabia. It has a combined fleet of more than 16,000 machines, including a large number of aerial work platforms and telehandlers. It also represents a number of lifting manufacturers including Hyster, Magni, Valla, Oil&Steel, Bravi and Mobilev.