Kiloutou acquires in Denmark
23 March 2022
French rental company Kiloutou is making its first entry into Denmark with the acquisition of leading Danish rental company GSV from private equity firm Catacap.
Terms of the transaction have not been disclosed, however it is understood the deal is valued at around €300 million, making it Kiloutou’s largest acquisition to date.
GSV is Denmark’s largest rental company. It has 20 depots and a 22,000-strong fleet including aerial lifts – booms, scissors, spider lifts, truck mounts, trailer lifts and low level platforms, along with telehandlers, mast climbers, earthmoving machines and compaction equipment.
Its fleet also includes modular buildings and site cabins, with 485 employees and revenues in the region of €130 million.
GSV chief executive Dan Vorsholt will take an executive position on Kiloutou’s board. The plan is to look at further greenfield expansion, while growing the GSV rental fleet. The business will retain the GSV brand, which has a high level of recognition in Denmark.
GSV has grown in recent years through a number of mergers and acquisitions. In 2015 it was acquired, along with Danish rental company Pitzner, by Catacap, with managers Henrik Christensen and Dan Vorsholt taking stakes and the two operations merging. In 2018 GSV acquired Ramirent’s Danish operations.
Its acquisition by Kiloutou will be funded from cash reserves and other sources. There are also plans for new public funding round which will give Kiloutou and GSV employees the opportunity to invest in the business.
Kiloutou chief executive Olivier Colleau said: ”GSV and Kiloutou share many of the same values, organised around the development of their people, a high level of customer satisfaction and an equipment range compatible with the ecological transition.
“I am very much looking forward to working closely with the talented and experienced management team and employees of GSV, and I welcome them to the Kiloutou Group.”