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Two acquisitions for Mollo

Italian rental group Mollo Noleggio has expanded its access rental business through two new all share acquisitions, the first in its history.

The company which is based in Alba in Cuneo south of Turin runs an extensive fleet that includes aerial lifts and telehandlers, while sister company Mollogru rents out tower cranes. The group also has a division supplying building materials.
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The Mollo HQ in Alba

The first acquisition saw it purchase all of the equity in aerial lift and telehandler rental company Monia Noleggi which is based in Forli to the south of Bologna. Established around 25 years ago the Monia fleet includes boom and scissor lifts, as well as truck mounted and spider lifts. It also has a few Rough Terrain and industrial pick & carry cranes in the fleet. The Monia business has already been integrated into Mollo Noleggio network with a merged Forli branch.
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The merged Mollo/Monia Forli branch

Chief executive Mauro Mollo said: "The acquisition was completed quickly with great satisfaction. We wanted to invest in Emilia-Romagna, at the same time Monia Noleggi had new development projects and we found a point of convergence that sealed the deal. From a commercial point of view, Monia Noleggi is well known in the region, with a business model characterised by great flexibility aimed at small businesses. Customers will now benefit from a larger network, with the additional advantage of a wider range of equipment."

The second acquisition involved the purchase of all the shares in Parmiani Noleggi, which is based in Montagna in Valtellina/Sondrio near the Swiss border, with two branches along Lake Como, Piantedo halfway down the lake, and Garbagnate Monastero near Lecco at the southern tip. It runs a fleet of around 150 aerial lifts including truck mounted lifts, booms, scissors, spider lifts and telehandlers, along with a few trucks with loader cranes. The business will continue to operate under the Parmiani Noleggi brand, and be managed by the founder's daughter, Chiara Parmiani in the role of chief executive.
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Mauro Mollo said: "The acquisition of Parmiani Noleggi allows us to consolidate our presence in northern Lombardy, bringing Mollo Noleggio locations in this region to 11. The acquisition will immediately generate synergies and opportunities starting with being able to add new products from the Mollo Noleggio range and develop business, for example, in earthmoving, construction and industry. We are also looking for new business opportunities in Switzerland, a country in which Parmiani already operates.”
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Mauro Mollo

"We want to continue to manage the development of Mollo Noleggio along the strategic lines that led us to what we are today, but at the same time we show that we are ready to welcome new opportunities. It is not a change of strategy, we have grown thanks to a solid and well established structure, so we have strengthened our internal organisation and will continue to open new branches and carry out our projects, but we believe we are ready for other acquisitions."

Established in the 1970s Mollo has expanded organically until now. The two acquisitions take its rental network to 45 locations, with more than 400 employees and a fleet that now exceeds 9,000 units.