Renta acquisition boosts presence in Denmark
By Belinda Smart09 June 2022
Finnish rental company Renta Group has acquired Danish general rental company Lohke Materieludlejning for an undisclosed sum.
The acquisition will see Renta become the fourth largest general rental company in Denmark and comes just days after its purchase of pump rental specialist Uprent Group in Latvia.
Lohke has five depots in Denmark’s capital region, the western seaport of Esbjerg, and Aarhus, Denmark’s second largest city on the Jutland peninsula’s east coast.
It has annual revenues of approximately €26.8 million (DKK200 million).
Its product range includes excavators, skid steer loaders, dumpers, vibration equipment, pumps, barrier equipment, tanks and containers.
It also carries telescopic handlers and forklifts, scaffolding, a wide range of tools and equipment and building materials.
Renta described the company as having a “local and lean business model” and a track record of profitable growth.
The acquisition will see Lohke integrated into Renta’s digital environment.
Renta confirmed the acquisition was part of its strategy to strengthen its position and grow in Northern Europe. Having entered Denmark in 2021 with a greenfield expansion, the addition of Lohke will boost its presence in the country.
Kari Aulasmaa, CEO of Renta Group, described Lohke as “an excellent fit for us as it has grown profitably” while maintaining a local connection.
“It’s a platform with a strong market position, a presence in attractive parts of the country and a reputation of providing high-quality services appreciated by its customers.”
Carsten Lohmann, CEO of Lohke, said Renta would bring “access to capital and products which we previously didn’t have and importantly, Renta shares the same values that we have followed for the past 16 years.”
Lohke has been undergoing a digital transformation in recent years which would align with Renta’s approach, he said.
In late 2021 Renta was acquired by European private equity firm IK Partners’ IK IX Fund in a move that supports its growth in Europe.