Kiloutou strengthens with acquisitions in Denmark and Italy

Stéphane Charlet, international M&A Director (left), and Vincenzo Basilicata, main shareholder and chairman of FIM (right). Photo: Kiloutou

Kiloutou Group has announced the acquisition of two rental companies in Denmark and Italy as part of its ongoing international expansion strategy. No financial details of the acquisitions have been disclosed.

The deals, both subject to regulatory approval, will see the group expand its footprint in western Denmark and the Piedmont region of northern Italy.

In Denmark, Kiloutou’s local subsidiary GSV has signed an agreement to acquire Thor Jorgensen, a specialist in heavy earthmoving equipment.

Based in western Jutland, Thor Jorgensen employs 100 people and brings a strong regional presence as well as a heavy equipment fleet that complements GSV’s offering.

Meanwhile, in Italy, Kiloutou is acquiring Novara-based FIM, a lifting equipment rental company with 17 employees.

The acquisition will strengthen Kiloutou Italia’s presence in the Piedmont region and add expertise in aerial work platforms.

Kiloutou Italia has been active in the country since 2017 and now operates 23 branches with 270 employees.

The latest acquisition will support the continued growth of the Italian network, especially around the Turin-Milan corridor, following the opening of a new branch in Milan in 2023.

Thibaut Le Chatelier, International Director at Kiloutou, said the acquisitions align with the group’s strategy to double its turnover in the medium term, driven by both organic and external growth.

“We are committed to establishing a long-term presence in the countries where we operate. The companies we acquire are always chosen with a view to accelerating our geographical expansion or complementing our offering. We also attach great importance to selecting companies that share our values, based on sharing, customer focus and team spirit,” said Le Chatelier.

Olivier Colleau, CEO of the Kiloutou Group, added, “These two new acquisitions underscore our desire to expand our playing field and boost the Group’s growth trajectory through external growth operations.

“The Italian market has a bright future ahead, with major projects offering promising prospects. In Denmark, we must continually challenge our leadership position to maintain our standing in a resilient and attractive market.”

Kiloutou, Europe’s third-largest rental company, reported €1.25 billion in revenue for 2024, 40% of which was generated outside its domestic French market. 

The company placed inside the top 15 in the latest issue of the IRN100.