Emeco boosts Euro heavy rents
15 April 2008
Australian heavy construction rental company Emeco has expanded its European heavy rentals operation with the acquisition of Netherlands businesses Euro Machinery, a trading company, and sister firm Euro Rental, which rents construction plant.
Both were acquired from Euro Machinery Beheer BV – owned by the Haverkotte family – for €6,44 million. Company founder Harry Haverkotte and his son Roy will join Emeco's European management team.
Following the acquisition the businesses will be moved to a new workshop, office and depot being built at Hardenberg on the Dutch-German border. Work on the new 40000 m2site started in March last year – before the acquisition – and is due for completion in March 2007.
Laurie Freedman, Emeco's chief executive officer, said the acquisition was an important one; “It gives us immediate access to an established and successful European based procurement and trading platform with trading networks into Eastern Europe, the Middle East and Africa.”
Euro Machinery began buying and selling used earthmoving, road construction and mining equipment worldwide in early 1997 and its more recently established rental division comprises around 80 machines, mainly Caterpillar, Hitachi and Bomag.
Emeco was ranked 74th in the IRN-100 listing last year.