Renta Group acquires Latvian pumping specialist

By Belinda Smart06 June 2022

Finnish rental company Renta Group has reached an agreement to acquire Latvia-headquartered pumping equipment rental businss Uprent Group, which provides dewatering and bypass products to the Baltics and Poland; it has 13 depots across Latvia, Lithuania, Estonia and Poland and annual revenues total €11m.

The acquisition, for an undisclosed sum, represents Renta Group’s entry into the specialised pumping market, an “attractive and sizeable rental niche” in Poland and the Baltics where pumping is frequently required on sites due to wet soil conditions.

Renta Group is entering the specialised pumping market through the acquisition of Uprent. (Photo: Renta Group.)

The move will also strengthen Renta’s existing position in Poland and marks the company’s first entry into the Baltics. 

Renta Group’s statement on the acquisition said Uprent is positioned as a leading company in its home markets, with a lean management structure and high profitability. 

Renta Group, whose digitally enabled business model has supported its rapid expansion in recent years, said it “sees significant potential in growing the businss in Uprent’s current markets and futher scaling operations by expanding specialised pumping into the Nordics, benefitting from Renta’s existing presence.”

Kari Aulasmaa, CEO of Renta Group said;

“We consider specialised pumping a highly attractive niche rental segment, where Uprent is the clear market leader int he Baltics and Poland. We are very deslighted to join forces with this high quality company where we see a talented team and significant further growth potential.”

In April, Renta Group completed the acquisition of Utleiesenteret, strengthening its position in Norway. Utleiesenteret is one of the largest machinery and equipment rental companies in Eastern Norway.

These recent acquisitions follow confirmation in late 2021 that Renta Group itself had been acquired by European private equity firm IK Partners’ IK IX Fund from Finnish private equity firm Intera Partners. 

The acquisition by IK supported Renta Group’s plan to expand through greenfield openings and acquisitions, while rolling out new digital solutions across all locations.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
AIF seeks to save UK’s Work at Height Regulations
Law could be scrapped under UK government bill 
Manitou introduces hydrogen telehandler
Based on a 14m unit, the prototype is part of Manitou’s wide-ranging green energy plan 
How telematics is changing equipment rental
Lucy Barnard reveals how rental firms are using telematic for their fleets
CONNECT WITH THE TEAM
Ollie Hodges Brand Manager Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
Belinda Smart
Belinda Smart Editor Tel: 44 (0)1892 786209 E-mail: belinda.smart@khl.com
CONNECT WITH SOCIAL MEDIA