French rental company Kiloutou has strengthened its position in Spain with the acquisition of CTC de Maquinaria for an undisclosed fee.
CTC de Maquinaria, an equipment rental company based in the north east of Spain, has a fleet of more than 1,800 units, including earthmoving and access equipment. It employs 50 people and operates five depots.
Kiloutou recently entered the Italian market with the acquisition of sister companies Cofiloc and Euronol and the company said its latest purchase of CTC was in line with its strategy for growth.
Xavier of Boÿs, CEO of Kiloutou, said, “This acquisition is fully in the development strategy of Kiloutou internationally, aiming to consolidate our positions in markets with strong potential.
“It allows us to strengthen our presence in dynamic areas in the north of Spain and illustrates our ability to gather around our development project of regional players of great quality and a strong local presence.”
He added that Kiloutou planned to expand further in Spain, with acquisitions and the opening of agencies.
Meanwhile, Jose Manuel Ballestar, president of CTC de Maquinaria, said, “I look forward to the acquisition of the company by Kiloutou. It will allow the company to continue its development against its competitors.
“I am confident in the ability of the two companies to make this merger a success.”