Algeco Scotsman buys Brazil's Eurobras
By Murray Pollok30 January 2012
Algeco Scotsman has acquired Eurobras Group, a Brazilian portable accommodation rental company, giving it an entry into one of the fastest growing rental markets in the world.
Eurobras, which is 30 years old and headquartered in Sao Paulo, has a fleet of 10000 modular units, making it the largest accommodation rental company in Brazil. Its customers are in the oil and gas, natural resources, infrastructure, construction, and events markets.
The company operates from 16 branches across Brazil and under a number of brand names, including Eurobras, Dynaplan, Pevidi, Planeta, and AMD.
"This acquisition aligns with our strategy to expand our operations into emerging markets, such as South America," said Duncan Gillis, chief executive officer of Algeco Scotsman.
"Establishing a significant market presence in Brazil provides us with substantial exposure to the high growth petrochemical, industrial and public works industries and positions us to capitalize on the expected growth in Brazilian education and healthcare spending in the future."
Algeco Scotsman has businesses in more than 20 countries and most of its fleet is in Western Europe and North America. However, in recent years it has been expanding into new markets, including eastern Europe, the Middle East and Australia.
It already has operations in Mexico, but the Eurobras acquisition gives it a South American base for the first time.