Cramo buys Lambertsson and Kranpunkten businesses in Norway
By Murray Pollok05 December 2012
Cramo has agreed to buy Norwegian rental companies Lambertsson and Kranpunkten AS for an undisclosed price.
Lambertsson is owned by contractor Swedish-based contractor Peab and Kranpunkten is owned by Fredrik Paulsson, who is an owner/director of Peab and CEO of Kranpunkten Scandinavia. The Swedish Lambertsson and Kranpunkten businesses are not included in the deal.
Cramo said the combined revenues of the acquired businesses was NOK 130 million (€17.7 million). Lambertsson has 30 employees and Kranpunkten has seven, and all are being offered permanent employment at Cramo.
Lambertsson is Norway’s fifth largest equipment rental business, focused on site huts, tools and power, while Kranpunkten is a leading company in aerial platform rental. Cramo said that both have substantial rental business with Peab, but also rent to other companies in Norway’s construction industry.
"Both businesses fit perfectly in Cramo's strategy for continued growth in Norway", said Mr Bent Nygren, managing director of Cramo in Norway, "Cramo operates in the same industry so we are already familiar with both the range of products and services and most of their customers.
“Both Lambertsson and Kranpunkten have a large capacity and expertise in the areas of site huts, tools, lifts and temporary installations which will contribute to strengthening further Cramo’s offering. "
At the same time, Cramo and Peab have signed a long-term Norwegian and Nordic cooperation agreement. "For Peab the agreement is a strategic outsourcing of our fleet of equipment”, said Petter Moe, managing director at Peab Norge, “We see that Cramo is the player who has the best position to meet Peab Norway's future needs in Norway".
Peab is based in Sweden but also has operations in Norway and Finland. Cramo already works extensively with Peab. In Sweden, for example, it has a long-term rental agreement covering one of Peab’s three operating regions in the country.