Change of private equity ownership for Renta Group
By Belinda Smart01 December 2021
European private equity firm IK Partners’ IK IX Fund is to acquire Nordic equipment rental specialist Renta Group from Finnish private equity firm Intera Partners. Financial terms of the transaction have not been disclosed.
The acquisition by IK will support Renta Group’s plan to enter continental Europe through greenfield openings and acquisitions, while rolling out new digital solutions across all locations.
Led by CEO, Kari Aulasmaa, the company will also consolidate its presence in the Baltic Sea region.
Positioned as an agile, sustainable, digitally-enabled rental company, Renta Group was established in 2015 and now employs over 1,000 people across Finland, Sweden, Norway, Denmark and Poland.
The group has approximately 100 depots across Finland, Sweden, Norway, Denmark and Poland, serving customers in the construction, infrastructure and industrial markets.
Its offering also includes modern site facilities, scaffolding and weather protection services in addition to other site services such as temporary plumbing and heating, ventilation and air conditioning installation and planning.
Kari Aulasmaa, CEO of Renta Group, said: “We have had a fascinating journey with Intera to create a modern and leading rental provider in the Baltic Sea region. It’s been a privilege to work with Intera’s team and we are grateful for all their support during the past years.”
“We will have a lot to do in developing our digital and sustainable rental services, together with expanding operations to new geographies. I’m convinced that IK, with their international network, is the perfect partner for Renta as we embark on the next stage of development.”
Christoffer Zilliacus, Partner at Intera, said, “It has been a tremendous journey and a true pleasure to support Kari and his highly capable team in building Renta to what it is today. With the support of the IK team, Renta is very well positioned for its next phase of growth, and we look forward to witnessing the company’s continued success.”