TVH Group has acquired 100% of Industrial Access from the Balkan Accession Fund (BAF) and founder and CEO, Stefan Ponea.
IRN understands that Stefan Ponea will continue to work with the company for a period of at least three years, and that the acquisition includes the rental management software systems that Mr Ponea has developed for the firm. TVH could potentially use Industrial Access’ IT rental management systems for its other rental operations.
Industrial Access was founded 10 years ago and has operations in Romania, Bulgaria and Moldova. Although focused on aerial platform rental, it also rents earthmoving and compaction machines, power compressors and small tools. In addition, it rents small equipment from in-store locations at a number of building supply sites in Romania.
The deal continues TVH’s acquisition strategy in access rental. It owns rental businesses including Mateco and Gunco, and also Romlift, a Romanian access firm that it bought in 2013.
Pascal Vanhalst, CEO and member of TVH’s executive board, said; “We are pleased that, with the acquisition of Industrial Access, we are strengthening our specialised rental business, get support for improved operational visibility and excellence, and potentially broaden the range of rental assets we provide to our business partners.
“We firmly believe that this transaction and the subsequent merger with our existing business will further enhance our services and also result in increased benefits for our customers."
Stefan Ponea said; “We started in 2005 and managed to become a leading player in our geographic markets. We have now found in TVH a perfect partner that will support us to continue our growth.”
BAF was advised by Axxess Capital, whose managing director Horia Manda said; “The divestment decision was taken at the right time, in accordance with BAF’s strategy. When BAF made the investment, both the company and the industry in our region were in their infancy.
“We managed to negotiate the difficult years of the economic contraction, to execute the change and expansion plan and to develop Industrial Access into the regional leader it is today.”
TVH Group is best known for its global parts business for industrial equipment, particularly forklift trucks. In recent years it has expanded into equipment rental market.