Sweden's TLM bought by Ramirent

Ramirent has acquired Swedish rental company TLM (Tannefors Lift- och Maskinuthyrning). TLM is located in the Östergötland region and has annual sales of €8.8 million and three branches.

The deal expands Ramirent's scaffolding and light equipment rental operations in the country.

The transaction includes TLM subsidiaries TLM i Linköping AB, TLM i Norrköping AB, TLM i Motala AB and TLM Ställningar AB. TLM's 35 staff will continue with Ramirent.

TLM was founded in 1977 and specialises in renting aerial platforms, scaffolding, portable accommodation and light equipment to small and mid-sized local contractors. It also sells construction supplies to construction, industrial, public as well as consumer sectors.

"It is a strategic goal of Ramirent Sweden to expand our scaffolding and light machinery business and to this end TLM is a very good fit for us", said Peter Dahlsten, senior vice president, Ramirent Sweden. "With the acquisition, Ramirent further strengthens its presence in Linköping and Norrköping, and expands its outlet network to Motala".

Magnus Rosén, president and CEO of Ramirent Group, said the acquisition was in line with its strategy of expanding its footprint and diversifying its customer base; "TLM will strengthen Ramirent's position in the local market among small and medium-sized construction companies through a good light equipment business, a modern lift fleet as well as a strong scaffolding business".

Bengt-Åke Nilsson, one of the owners of TLM, said Ramirent's "one-stop-shop" concept would help it provide "even greater value to our customers".

The TLM acquisition is the latest in a number of small to mid-sized acquisitions it has made in the past 12 months. Earlier this month is bought a small Swedish portable accommodation rental company, Consensus Entreprenad.