TVH Group has acquired Gardemann, the German access rental business owned by Loxam. The price has not been disclosed.
Loxam has sold Gardemann a matter of months after acquiring it as part of its takeover of Lavendon Group earlier this year, a takeover that it contested with TVH. All shares of Lavendon (Deutschland) Holding, which incorporates Gardemann Arbeitsbühnen have been transferred to TVH.
The deal means that TVH will own the two largest access rental businesses in Germany, adding Gardemann to the Mateco business that it acquired in 2012. The combined fleet of the two operations will be approaching 10000 units, with Mateco’s 6000 units augmented by the 3500 machines owned by Gardemann.
The deal also means that Loxam will have owned Gardemann for less than six months. Loxam said in a statement that its focus was on markets where it can achieve leadership positions, ”This transaction enables Loxam to shift resources to other markets in Europe and in the Middle East, and to allow the development of its general plant rental activities in Germany which remain a core area of focus.”
TVH said the acquisition represented a unique opportunity to unite the two leading brands, thus significantly strengthening its position on the German market. It reflects the growth strategy of TVH to be the leading player in the company’s selected markets.
Pascal Vanhalst, TVH Equipment CEO, said, “TVH is convinced that this combination will create a highly successful team, with a clear focus on providing the customer with an excellent and satisfactory service at all times. We warmly welcome the experienced and motivated Gardemann team and invite them to participate together in the creation of the largest branch network for the rental of work platforms in Germany.”
Gérard Déprez, president of Loxam, added, “I am convinced that TVH is a good home for the skilled and experienced management team and employees of Gardemann who have the opportunity to join forces with the German rental leader in aerial work platforms and hence benefit from the growth perspectives offered by TVH.”
In January, Lavendon reported that 2016 revenues at Gardemann had fallen by 3% year-on-year, although it was profitable for the year.