Portuguese deal for Loxam
By Murray Pollok03 January 2023
Loxam has bought Portuguese rental company HR Equipamentos from Group GHP Investimentos, a Portugal-based company with interests in automotive sales, construction and real estate. The purchase price was not disclosed.
Established in 1990, HR has depots in Lisbon, Porto and Algarve and employs 40 people. The acquisition will boost the Iberian presence of LoxamHune, Loxam’s wholly-owned subsidiary in Spain. It will complete LoxamHune’s network in the Southern part of Portugal, with six locations in total.
Hipólito Mendes Pires, Chairman of GHP Group, said; “I consider it is an advantage for HR Equipamentos to be acquired by the Loxam Group, one of the leading equipment rental companies in the world, which will allow it to continue its growth path.”
Luis Angel Salas, CEO of LoxamHune, welcomed HR to the business and said; “The geographical complementarity and the competence of the team make a very good fit to our existing operations.
“We will join forces to provide our customers with the best service through an expanded network.”
Loxam’s President, Gérard Déprez, said the acquisition demonstrated Loxam’s commitment to grow further in Portugal; “HR is a long-established player in Portugal, recognised for its technical expertise and operational excellence. I am always delighted to welcome skilled and experienced teams into the Loxam group.”
The deal was announced on 23 December, 2022.
For GHP it means the business will now focus entirely on the sale and repair of cars and trucks in Portugal and Angola, as well as its Hipogest engineerting business and Eurofénix company which sells building materials such as coatings and steel.