Stavdal boosts rental business with Rentex acquisition
By Murray Pollok17 September 2013
Swedish rental company Stavdal AB is to acquire Rentex AB, the Malmo-based rental company with annual revenues of around SEK 67 million (€7.7 million).
Rentex was founded in 2005 and was run by Ulf Krantz and Magnus Andersson, who will continue in their management positions. It employed 50 people and operated from one location in Malmö and three in Gothenburg.
The business was a sister company to Prevex, an equipment sales and builders merchants store, which has sold the rental operation to concentrate on expanding its sales activities.
Stavdal said the acquisition would boost its annual revenues to close to SEK 400 million (€46.2 million). This makes it a major player in the Swedish market, although still modest in comparison to either Cramo (€320 million revenues in Sweden) or Ramirent (€210 million).
Rentex rents a wide range of construction equipment and aerial platforms but brings a particular expertise in fall protection equipment and scaffolding.
Mikael Olsson, CEO of Stavdal, said; “Rentex AB is currently one of the strongest players in the installation and rental of fall safety and scaffolding in its operating regions.
“The company will be able to provide a high level of expertise that complements Stavdal’s range and services further. We welcome all new employees into the company and we are looking forward to an exciting journey together”.
Ulf Krantz, CEO of Rentex AB, said Stavdal represented the best option for the development of Rentex; “An organization with the right size, with substantial resources and a really fresh fleet. Now we will really be able to offer the whole [range of services].”
Mr Conny Holmberg, CEO of Prevex, said in a statement that the sale of Rentex would help both companies make the “next step, which requires large investment and substantial resources”.
"Property owners are an important target for Prevex, and through the sale of Rentex opens up greater opportunities for increased cooperation with all rental companies in machinery, tools and supplies, and not least Stavdal" said Mr Holmberg.