Swedish aerial platform rental company Lipac Liftar has acquired ITEX Rental AB, a small tools and equipment rental business with five locations.
The new owner said it planned to open further ITEX branded depots in areas where Lipac already operates. The terms of the deal were not disclosed.
Per Hedebark, CEO of Lipac, said; “ITEX is a competent and well known provider of construction rental equipment in the Stockholm area. The company provides Lipac with the ability to offer a broader spectrum of rental equipment to our customers."
ITEX’s outgoing CEO and owner, Johnny Rensfeldt, said ITEX represented a platform for further growth; “It feels encouraging and safe to pass the ownership to Lipac who can take over and expand the company both in Stockholm and out to other locations in Sweden."
Lipac Liftar said it would continue to expand ITEX and increase the number of rental depots in Stockholm, through both organic growth and acquisitions of rental companies. The growth will include opening of new ITEX depots in areas where Lipac already has locations.
Lipac already has depots in Stockholm, Borlänge, Gävle Jönköping, Linköping and Norrköping, plus ”partner depots” in Arvika, Eskilstuna, Kalmar, Nybro and Kungälv.