France’s Kiloutou group has entered the Spanish market for the first time with the acquisition of the Rentecnika equipment rental business.
The move by the €450 million turnover rental company follows an acquisition in Poland last year.
Founded in 1994, Rentecnika operates out of Barcelona and Madrid with a rental fleet of around 5,000. Its customers range from large building companies through small and medium-sized businesses to private individuals.
Kiloutou chief executive officer Xavier du Boÿs said the company’s aim was to become one of the major players in Spain.
“This acquisition is an important step in our development and confirms our ambitions abroad. Rentecnika’s positioning in terms of products and agency format is perfect for the changing Spanish market.”
Santiago del Solar, chairman of Rentecnika, added: “This will enable us to accelerate our development and be able to grasp many business opportunities as the Spanish market recovers.”