EQIN | Indu-Tools Group moves into Germany
07 November 2023
EQIN | Indu-Tools Group has acquired German rental company ToolsRent24. No financial details of the transaction have been disclosed.
Based in Ratingen, ToolsRent24 specialises in the rental of industrial tools and welding machines and employs 10 members of staff.
Following the acquisition it will continue to operate under its current name while being recognised as part of the EQIN | Indu-Tools Group, which was formed following a merger between the companies in June.
EQIN | Indu-Tools said the move is part of its “sustainable growth ambition” to further expand within the Western European industrial rental sector and will allow it to strengthen and professionalise its position in Germany and Western Europe.
Erwin Claus, CEO of EQIN said, “We want to be able to respond to the changing demand in the growing market. This acquisition means we can better serve our existing German customers.
“The ToolsRent24 fleet will be significantly expanded with lighting, air and power supply equipment. Furthermore, we can also share our sustainable solutions, innovations and digitalisation with the market.
“This includes developments in the ongoing energy transition in the industrial sector, as well as the possibilities for the broader implementation of telematics.”
Speaking to IRN in May, Claus said the move into Germany was “the next step for expansion” for the company, adding that further expansion in France is possible as the company sees “a lot of potential” in the countries.
EQIN | Indu-Tools was set up after EQIN owner Value Enhancement Partners (VEP) acquired Indu-Tools Group. Collectively, the companies employ 330 members of staff and generate turnover of more than €100 million.