Kiloutou buys Sticar in Italy
03 October 2019
Kiloutou has acquired Italian rental company Sticar for an undisclosed price.
Sticar rents around 850 aerial platforms and 475 industrial forklifts from nine locations in Northern Italy, and employs 76 people.
The deal strengthens Kiloutou’s operations in Italy following its acquisitions of Cofiloc in 2017 and Elevo in 2017. It now has 20 rental locations and 220 employees in Italy, rentaing a total of 5000 machines.
Olivier Colleau, Kiloutou’s Executive Chairman, said; “”This acquisition is fully in line with Kiloutou’s international development strategy aimed at consolidating our positions on high potential markets.
“It illustrates once again our ability to federate around our project of development of regional players of very high quality. Kiloutou’s short-term goal is to integrate Sticar’s teams and continue its development on the Italian market through organic growth, the opening of depots and acquisitions of strategic players. I wish warmly welcome the 76 Sticar team members to the Kiloutou group.”
Paolo Stimamiglio, shareholder and President of Sticar, said: “We look forward to the acquisition of our company by Kiloutou. It will allow our two companies to enter a new phase of their development in Italy by combining their forces and their teams, while continuing to offer the excellent level of service that is the hallmark of our two companies.”