GAM Spain purchases forklift specialist

By Belinda Smart15 July 2021

Spanish multinational rental company General de Alquiler de Maquinaria (GAM) has purchased forklift specialist Recamasa, for € 7 million, securing exclusive distribution of Yale forklifts, a prominent brand in the Spanish market.

Pedro Luis Fernández, president and CEO of GAM.

Recamasa had a turnover of € 7 million euros last year, with a gross operating result (EBITDA) of € 2 million and a net profit of € one million.

It rents, sells and services forklifts and is an authorised dealer for Yale. Its customers include large national and multinational companies, Spanish SMEs and public sector organisations.

According to Pedro Luis Fernández, president and CEO of GAM, “The purchase of Recamasa is part of our growth strategy, and we are taking another step forward in our consolidation as a leader in the industrial machinery sector.

“We are delighted to add to our team the expertise of a company with a great staff, and for which we have always had great respect for its great performance and recognition in the sector.”

Founded in 1985, Recamasa’s Madrid operations include a 2,200 square metre warehouse, showroom, sales room, maintenance and paint workshops and offices. It carries certifications in quality management (ISO 9001) and environmental management (ISO 14001).

GAM was founded in 2003 in Asturias, northern Spain and listed on the Spanish Stock Exchange in 2006, where it is the only listed company in its sector.

Its purchase of Recamasa aligns with GAM’s ongoing diversification strategy, which has seen the company grow its machinery offering in multiple industries in recent years.

GAM distributes brands such as Hyster and Magni and its porfolio of services and products also includes training, maintenance, energy, events, robotics and drones. 

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
New Cat excavator ‘delivering on sustainability’
Cat 350 said to consume up to 13% less fuel than previous models 
EquipmentShare expands its US network
Colorado rental branch to partner with community organisations on apprenticeships
MBW appoints new COO
Jim Van Beek returns to company after a 15-year absence
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