Algeco Scotsman makes UK and French acquisitions
By Murray Pollok01 October 2010
Algeco Scotsman, the global portable accommodation rental company, has made two European acquisitions, buying Yvelinoise, a modular space renter in the west of Paris, and acquiring 2000 mobile storage units from Cabin Centre Ltd in the UK.
Yvelinoise de Materiel was established in 1974, based in Ablis, and operated a fleet of 3650 accommodation units in the Paris area. Its depot will now be a new Algeco service depot in the Paris area.
"This acquisition expands our market presence and scale in France, particularly in the western region of Paris," said Duncan Gillis, the recently appointed chief executive officer of Algeco Scotsman. "As a result of the deal, we've added a vibrant branch to our network, effectively accommodating new customers and operations."
The acquisition of the 2000 mobile and secure storage units from Cabin Centre in the UK is part of Algeco Scotsman's strategy to diversify beyond the portable accommodation units which are its strength. The units will be integrated into Algeco's UK rental business, Elliott Hire.
Bruno Roqueplo, chief executive officer for Algeco EMEA, said; "As a result of this acquisition, we have increased our inventory of welfare rental units to serve our customers in this region.
"The breadth and variety of our fleet enables us to meet current and emerging requirements for national construction companies, as well as industrial and commercial organizations."
Duncan Gillis replaced former Algeco Scotsman chairman and CEO Gerry Holthaus in April this year. He joined the company in March 2009 as chief operating officer and before that worked for United Technologies Corporation (UTC), Procter & Gamble and McKinsey & Co.
Former CEO Mr Holthaus will become non-executive chairman of the company and manage board-related activities and support the company's geographic expansion plans.