Italian rental company Venpa, the main element of the GV3 group, has acquired Bologna based sales and rental company LocaTop. The deal was agreed late last month and has now completed.
LocaTop was founded in 2004 by Carlo Cazzola and now runs a fleet of1,600 units, including aerial work platforms and mobile cranes, from 16 locations in Emilia-Romagna and Lombardy with more than 100 employees and revenues last year of €25 million with an EBITDA of €10 million.
Locatop offers aerial lifts, telehandlers …
and cranes
Venpa which includes nine other companies: Torinoleggi, Tecnoalt, Elevateur, Sicel, MinoEge, Rental Sud, Nolotecnica, Vlog and Audax Doo, which together have a combined fleet of more than 4,000 machines available from 35 branches in Italy and three in Croatia., with around 300 employees. It had revenues last year of €71 million with an EBITDA of around €25 million.
The investment is part of GV3 group’s growth strategy, LocaTop will substantially strengthen its coverage in Central and Northern Italy while turning Venpa into near €100 million business.
As with Venpa’s other acquisitions Locatop will continue to operate autonomously and retain its identity.
Venpa chief executive Emanuela Pege said: “We are proud to announce that the acquisition of Locatop has concluded positively. Our goal is not only to consolidate what has been achieved so far, but also to broaden horizons and create synergies, welcoming new companies already specialised in rental and strongly rooted in their local area. This step marks the beginning of a new phase of collaboration in the rental sector in the regions of Emilia-Romagna and Lombardy. Carlo Cazzola of Locatop, will be a fundamental element in this new phase, bringing his experience and strategic vision."
Carlo Cazzola added: “I am really pleased that LocaTop can take part in an ambitious project like the one born from the union with GV3-Venpa. Thanks to Venpa's history, Locatop becomes part of a long term project intended to create a primary national group that will bring benefits to shareholders and all workers."
GV3 is based in Dolo (Venice) and was established in1981 it offers a wide range of construction lifting and earthmoving equipment for construction and infrastructure markets, both in Italy and overseas
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