French rental company Kiloutou has entered the Italian market with the acquisition of sister companies Cofiloc and Euronol. The acquisition fee remains undisclosed.
Both Cofiloc and Euronol specialise in the earthmoving and access sectors in Italy, and boast a fleet size of nearly 4000 products between the two of them. The companies have a network of ten agencies located in Treviso, Verona and Modena, and employ over 90 staff.
Kiloutou said the acquisition would add to its future growth prospects and aimed to build on the know-how of the two companies in Italy. The founders and management staff at the two companies will continue in their roles, Kiloutou has confirmed.
Xavier of Boÿs, CEO of Kiloutou, said, “This acquisition allows Kiloutou to continue the recently announced plans of development internationally, by positioning itself on a market which has a strong potential. The strength of Cofiloc and Euronol, along with their geographical presence in the north of Italy will help us.
“I extend a warm welcome to the 90 team-mates of Cofiloc and Euronol to Kiloutou.”
Meanwhile, Cofiloc and Euronol said in a statement, “We are pleased to announce the acquisition of Cofiloc and Euronol by Kiloutou. It will allow our two companies to undertake a new phase of their development by backing their forces and their teams to those of a European leader, while continuing to benefit their clients of the excellence of the service that makes their reputation.”