Mills acquires 25% share of competitor Rohr
20 January 2011
Brazilian rental company Mills Estruturas e Serviços de Engenharia S.A. (Mills) is acquiring a 25% share of Rohr Estrutura Tubulares, one of its competitors, for R$90 million (€40 million).
Rohr is a privately held company specialising in scaffolding and equipment rental with revenues of R$163 million in 2009. Last summer Rohr announced plans to invest heavily to expand its powered access rental, scaffolding and temporary buildings/events businesses.
Mills, which operates the largest rental business in Brazil, said the investment would broaden its exposure to the sectors it serves - including infrastructure, residential and commercial construction, oil and gas - and said Rohr was a company with a "solid market reputation, competent management, strong financials and profitability compatible to Mills'".
The company said it would "continue to analyse strategic acquisition opportunities that offer attractive return to our shareholders."
