Loxam adds Laho and 119 branches
25 March 2008
French rental company Loxam has acquired Laho Equipement - one of its largest competitors in France - from Barclays Private Equity and Lah management. The price was not disclosed. Barclays bought Laho in March 2005 for 110 million.
The deal will give Loxam an additional 119 depots throughout France and additional annual revenues of 124 million, boosting its French market share from 15% to 19%. Loxam already has 327 locations in France, which will now rise to 446.
As with previous acquisitions - including last addition of Loueurs de France - Loxam will retain the Laho Equipement brand and, said the company, will not be closing any of Lah depots.
A joint statement by Loxam and Barclays Private Equity said Laho would retain its “commercial autonomy”. In addition, Laho'st managing director, Serge Ansaldo, will remain as head of the Laho division.
Laho was one of the largest general equipment rental companies in France, along with Hertz, Loxam and Kiloutou.
The deal has to go through French anti-trust regulators.