Renta acquires Norwegian general renter
26 June 2023
Renta Group has announced the purchase of Norwegian general rental company Mylift. No financial details of the deal have been disclosed.
Founded in 2010, Mylift has eight depots within Norway where it employs more than 200 people.
As well as an extensive product range of almost 4000, the company also operates in scaffolding services through its subsidiary Mylift & Borud Stillas. The deal will add NOK 360 million (€30 million) of annual revenue to Renta Group.
According to Renta, the purchase will also help it continue its strategy for building a nationwide rental network in Norway by strengthening its presence in Oslo and extending the rental network to Innlandet, further north from Oslo.
Kari Aulasmaa, CEO of Renta Group, said, “We are thrilled to join forces with Mylift, a profitable and rapidly growing company with a reputation of providing high-quality services. Through the acquisition, Renta makes another step forward in building a fully nationwide coverage in Norway, while at the same time strengthening strategically important product and service areas.
“Mylift’s complementary presence and offering provides an excellent platform for continued growth for us in Norway. We would like to extend a warm welcome to the Mylift team and look forward to working with them.“
Knut Rindal, CEO of Mylift, said the company will be able to “further develop our services towards our customers” thanks to the acquisition and will become “even stronger and be able to accelerate growth in the Norwegian rental market.”