3i and Pragma invest €60m in Loxam

By Murray Pollok04 July 2011

Private equity firms 3i and Pragma Capital have invested €60 million in Loxam to acquire a minority stake in the French-based rental company.

Loxam said the investment funds would accelerate the growth of the company by facilitating "potential significant acquisitions". It said the funds would also support the company's employee shareholder scheme and the expanded ownership would increase its international profile.

Denis Ribon, a partner at 3i France, said 3i had been in contact with Loxam for many years; "We were attracted by the company's resilience during the economic crisis and its strong potential for European growth. 3i has extensive experience in this sector, particularly through our previous investment in HSS in the UK. In addition, our international network overlaps with Loxam's geographic footprint."

Jean-Pierre Créange, CEO of Pragma Capital, commented: "We were the first private equity firm to partner with Loxam to support the company through its outstanding development. We are pleased to enter this new phase of growth."

Gérard Déprez, CEO of Loxam, said he was delighted to welcome 3i and Pragma as shareholders; "They have a proven track record working in partnership with entrepreneurs and management and will provide a powerful international network in Europe and worldwide. These strengths will enable us to continue our ambitious growth strategy".

Loxam was established in 1967 and now has a turnover of more than €700 million, employing nearly 4000 people at 541 branches in 11 countries.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
United to debut tool-tracking utility trucks
United Rentals will unveil its “Truck of the Future” at The Utility Expo in Louisville later this month, plus hear educational sessions and more
Case launches three ‘kings’ onto backhoe loader market
New SV series features expanded cab, plus productivity and emissions benefits
Aggreko eyes sustainability for Ryder Cup 2021
Aggreko seeks to reduce the international golf event’s carbon footprint while providing power, heating, and cooling
CONNECT WITH THE TEAM
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail: murray.pollok@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA