Izaac Costa, president of Brazilian rental company Degraus, attended Feloc Expo Rental. His company recently had 25% of its capital acquired by French rental giant Loxam.
About this move and its effects for his business development, Mr Costa said: “Other Brazilian renters have received foreign investment before, but only from private equity investors.
“We chose to partner with someone from inside the industry. Loxam could have invested more than 25%, but chose this level at first because of the conditions in the market”.
According to Mr Costa, the arrival of Loxam does not change Degraus´ business plan, and it does not necessarily mean the company will purchase more equipment in the short term.
“We rent about 300 items, from electrical tools to aerial work platforms and power generators. At first, Loxam will help us to strengthen our current business units. But in two years time we believe the market will improve and then we can even things up.”