Swedish acquisition for Boels

Boels Broup’s Swedish subsidiary Cramo has agreed to acquire MG Rental AB, a rental business with six locations in the Stockholm area in Sweden.

Boels said the deal - the third by Cramo in 2023 - will strengthen Cramo’s “already leading position” in Sweden and was part of the group’s wider growth strategy.

Boels owns Nordic renter Cramo. (Photo: Boels)

Cramo CEO Martin Holmgren said; “Cramo is on a steady growth journey with the support of Boels Group.

“We have a sustainable strategy for how we will continue to be number one in the industry – the acquisition of MG Rental is an important part of that.”

MG Rental is privately owned and was founded in 2007.

Its CEO, Mattias Matsson, said the business had enjoyed a good relationship with Cramo over the years; “We think very alike and have the same view of what is important to satisfy customers – there is more that unites us than divides us.

“It feels very reassuring, and I dare to say that this deal brings great benefits for us, Cramo and our customers.”

The deal follows two other acquisitions by Cramo in the Nordics in the first half of 2023, that of Swedish business KraftX AB, with nine branches, and of Norwegian rental business BAS Maskinutleie, with eight locations.