Renta Group buys Norwegian renter
By Lewis Tyler29 March 2023
Renta Group has reached an agreement to purchase Norwegian rental company Høyde-Service Utleie AS, with the acquisition expected to be completed during April.
Founded in 2010, Høyde-Service operates in the construction, industrial and service sectors and has depots in Oslo, Sandefjord, Porsgrunn and Arendal in the south-east of Norway. The company generates annual revenues of approximately NOK 90 million (€7.9 million).
According to Renta Group CEO Kari Aulasmaa, the purchase is the next step in the company’s strategy to become a “fully nationwide player in Norway and is a good platform for further development and growth in the south of Norway.”
Aulasmaa said, “We are delighted to welcome the Høyde-Service team into the Group and look forward to working with them. Høyde-Service is an excellent strategic and cultural fit for us, with a complimentary geographic presence and a local focus to the business.
Steinar Kaalstad, CEO of Høyde-Service Utleie AS, said, “We are very pleased that Høyde-Service joins forces with Renta, a company that shares our values and has ambitious future plans.
“Being part of Renta will ensure continued high-quality services for our customers and provide a good home for our employees. I am convinced that together with Renta, Høyde-Service will become even stronger in our region.”