Loxam acquires in Sweden
By Lewis Tyler29 March 2023
Through its Sweden-based subsidiary Ramirent AB, Loxam has acquired Jiab Hyrcenter from Jiab Fastighets AB, Kex Invest AB and Ave Capital Invest AB. No financial details have been revealed.
Founded in 2011, Jiab Hyrcenter is based in northern Sweden and has five branches in Luleå, Piteå, Boden, Kiruna and Gällivar. The company supplies a range of general construction equipment to the region, including excavators, pumps, lifts, loaders and dump trucks.
Johan Färm, CEO of Ramirent AB, said: ”The transaction is part of Ramirent’s strategy to be the leading player with local roots all over Sweden. Through this acquisition, Ramirent will benefit from JIAB’ strong local anchor, which in turn will enjoy the backing of size and resources of the Ramirent and Loxam organizations.”
According to Loxam, the acquisition of the company, which includes its subsidiary Jiab Boden AB, strengthens its position in Norrbotten and ensures it remains the “largest machine rental company in Sweden.”
Gérard Déprez, president of Loxam, said, “The acquisition of Jiab demonstrates Loxam’s commitment to Sweden, Loxam Group’ second largest market, and to further develop Ramirent. Loxam is always pleased to welcome new colleagues, with whom to share mutual expertise and common ambition to continuously improve the service we provide to our customers.”
Johan Isaksson, founder, and CEO of Jiab Hyrcenter, said, “Becoming part of Ramirent represents a great opportunity for our company to tackle larger challenges. Together with Ramirent, we will have better resources, expanded competencies and a greater range of services for our machines, as well as new digital services, increased security, and a better working environment. The companies complement each other well and we strongly believe in sustainable machine rental.”
The deal to acquire Jiab Hyrcenter is the latest acquisition the company has completed in the Nordic region, its second largest market behind France. In February last year, Loxam acquired Finnish electrical and reserve power equipment business and events rental supplier Festivaalisähkö Oy through Ramirent.