Loxam exits Morocco with sale of subsidiary

Loxam has sold its Moroccan rental subsidiary to Acces Industrie, the France-based access rental specialist. The deal will give Acces two locations in Casablanca and El Jadida, Morocco.

The Paris-based rental giant has been in Morocco since 2011 through a partnership with Atlas Rental, which then became a wholly-owned Loxam subsidiary.

Loxam said the investment required to build momentum in Morocco did not align with its strategy to focus on Europe and Latin America. It said the sale would allow Atlas to take the next step in its development and ensure continuity for its employees and customers.

“I would like to sincerely thank the employees of Atlas Rental for their trust and commitment alongside Loxam,” said Gérard Déprez, chairman of Loxam.

“They have contributed to building a healthy and profitable company. We are convinced that we have found the right partner to continue the development of Atlas Rental in Morocco and open up new opportunities for it.”

Acces Industrie, which in addition to France is already present in Spain, Belgium and Switzerland, said the deal was part of its strategy to strengthen its proximity to customers, support their projects in new territories and strengthen its presence in markets with potential.

Loxam’s deal to acquire Mills Rental in Brazil is currently going through competition approvals.