Finnish rental company Cramo has made its second acquisition in as many weeks with a deal to buy equipment rental company Visby Hyresmaskiner (VHM) in Gotland, Sweden.
The deal came after Cramo expanded domestically with a deal to acquire Vuokra-Pekat, a privately-owned construction equipment rental business that operates in southern Finland, earlier this month.
The company said the latest deal would see it convert VHM – which produced 2013 revenues of SEK20 million (€2.1 million) - into a Cramo franchisee.
Cramo said all of VHM’s employees, including the company’s main owner and managing director Roger Gustafsson, would stay in the company and continue under the Cramo brand.
“VHM is a well-reputed rental company with a record of several years of profitable growth”, said Erik Bengtsson, managing director of Cramo in Sweden.
“Our intention is to further grow our business in Gotland. By joining our forces, we can provide VHM’s current customers and all the other players in the construction industry an even wider range of products and services than today and at the same time increase our efficiency.”
VHM’s Mr Gustafsson added, “Becoming part of the Cramo network will provide us a better access to a wide range of fleet. The resources of Sweden’s leading equipment rental company will also help us increase our service level and facilitate our continued growth.”