09.01.2008

Ramirent enters Slovakia

Ramirent, the Finish based rental company has acquired a majority stake in OTS Bratislava, a leading Slovakian construction equipment rental company. OTS was founded in 1973, employs 135 people and is expected to generate sales of over €10 million in 2008.

Ramirent has acquired a 60 percent stake in the company with an option to increase its holding to 100 percent after 2010. The OTS management team will remain with the company.

Headquartered in Bratislava, OTS operates through a network of 40 depots throughout the country, half of which are franchised.

Tomasz Walawender, vice president, Ramirent Central Europe said: "We are very happy to cover another white spot in Central Europe. A fast growing economy, political stability and a competitive workforce make Slovakia one of the most attractive economies in Europe. We welcome OTS with great enthusiasm into the Ramirent Group.”

The OTS Bratislava fleet is a typical general rental fleet including excavators, loader backhoes, skid steer loaders, concrete mixers and compressors. Until now it has not focused on access equipment or telescopic handlers.