20.11.2007

Cramo buys in Sweden

Cramo Sverige, the Swedish subsidiary of Finnish based Cramo, has taken over Kumla based Kumla Lift AB and Skövde based Hyrcenter I Skövde AB in Sweden. The two companies will generate revenues this year of around €3.15 million with six and five employees respectively.

The two businesses which have a combined fleet of 360 aerial lifts will be merged into the Cramo network with all employees expected to stay with the company.

Kumla Lift and Hyrcenter shared common ownership and have been in the aerial lift business almost since the start of the industry in Sweden over 30 years ago.

The two companies operate a fleet of Skyjack and UpRight scissor lifts, JLG booms and Dino trailer lifts.

Magnus Rosén, senior vice president of Scandinavia at Cramo said: "The regional acquisition is of strategic importance in the region, where it will give us a market leadership position in access rental - a position we already hold in Sweden overall. It's a well-run operation with excellent customer relations, and a strong management that will stay on for the foreseeable
future."

"In the relatively mature Nordic rental market, our strategy is to grow through a balanced combination of organic growth coupled with small or mid-sized acquisitions. Obviously, acquisitions are particularly interesting in regions where we need to strengthen our position in terms of geographic presence or a specific product group. This acquisition is a good example of the latter, and a direct response to the customer needs in the area," he added.