Haulotte sells Lev to Loxam

Loxam has acquired Haulotte Group's French access rental businesses, Lev and Royens Levage, for an undisclosed price. The deal will add around 2000 aerial platforms to Loxam's existing access fleet and Loxam said the businesses generated €30 million in revenues in 2007.

Haulotte acquired Lev from Fraikin in late 2003, at which time it had a fleet of 1500 units and revenues of €22.3 million. Bernard Pointet, the former managing director of Lev who has been employed by Haulotte for the past four years, is staying with Lev and is now a Loxam employee.

Patrick Rizzo, Loxam's marketing director, said the Lev name would be retained but that it was too early to say how the new access business would be integrated within Loxam's existing access division; “But it is sure that we have to find synergies between the three networks: Loxam Access, Loxam Alpina and LEV+Royans levage.”

Mr Rizzo added that Loxam was not talking to Haulotte about acquiring its UK access rental business, UK Platforms.

Alexandre Saubot, Haulotte Group‘s chief operating officer, told AI that the funds raised by the sale would allow it to invest in developing its business in western and eastern Europe; “These emerging countries will fuel Haulotte Group profitable growth over the next few years.”

He said a review of its rental businesses had concluded that Lev had not integrated with Haulotte as well as had been hoped, but that Haulotte had no plans to sell any of its other rental businesses, in the UK, Spain and Italy; “We will continue with our other rental businesses, where there is significant growth”.