Renta acquires in Norway
01 March 2022
Finland-headquartered rental company Renta Group Oy has acquired Norwegian rental company Utleiesenteret, in a move described as a “decisive step” in its plans to become a pan-Nordic player. The price was not disclosed.
Utleiesenteret is a mid-sized machinery and equipment rental company in Eastern Norway, with 80 employees across Drammen, Oslo, Kongsberg and Gardermoen.
It has an annual turnover of approximately NOK 300 million (€30.4 million).
“Through this latest addition, Renta will have more than 350 employees across 19 depots in Norway, with turnover for this region expected to surpass NOK 900 million (€91.35 million),” the company said.
“Utleiesenteret’s offering is complementary to Renta as it is a leading player in the region with a strong and successful track record. With customers receiving a broader offering, the Company will be able to realise its ambition and wider business objectives.”
“The acquisition secures access to the best technological and digital solutions and Utleiesenteret will continue to provide the same high level of service with a strong local foundation.”
Kari Aulasmaa, CEO of Renta Group, said: “Utleiesenteret has shown solid growth and good profitability over time. It has a very strong market position in Eastern Norway with a formidable reputation, a clear green profile, updated machinery and offers high-quality service greatly appreciated by its customers.
“The emphasis on securing its local foundation suits us perfectly as this is central to our business strategy.”
Renta Group has a presence in Finland, Sweden, Norway, Denmark and Poland. Late last year the company announced a change in its private equity ownership, to support its growth and geographic expansion.
Per Christian Voss, Chairman of the Board at Utleiesenteret, said, “We are observing facilities increasing in size, rising specialisation with a growing demand advanced digital and technological solutions.
“In terms of future growth, being part of an international player will help us to achieve this. Utleiesenteret’s owners, who will continue to work for Renta, will also be reinvesting. I am convinced that this acquisition will ensure further successful development and we are looking forward to continuing our journey on an international scale.”