Loxam buys Laho

20 March 2008

French rental company Loxamhas acquired Laho Equipement – one of its largest competitorsin France – from Barclays PrivateEquity and Laho's management. The price was not disclosed.

Barclays bought Laho in March2005 for €110 million. The deal will give Loxam anadditional 119 depots throughoutFrance and additional annualrevenues of €124 million. Loxamsaid the deal will boost its Frenchmarket share from 15% to 19%. Loxam already has 327 locationsin France, which will now beincreased to 446.

As with previous acquisitions, including last year's addition ofLoueurs de France, Loxam willretain the Laho Equipement brandand, said the company, will notbe closing any of Laho's depots. Laho's current managing director,Serge Ansaldo, will remain ashead of the Laho division. Thedeal has to go through Frenchanti-trust regulators.

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