Renta expands tunnelling fleet with asset acquisitions

Photo: Renta Group

Nordic-based rental company Renta Group has acquired the tunnelling infrastructure assets from W. Giertsen Services AS (WGS) and AGTunnel AS (AGT). No financial details of the deals have been disclosed.

The transactions involve the transfer of nine specialised machines used in tunnelling infrastructure projects.

As part of the deal, Renta has also entered into long-term cooperation agreements with both WGS and AGT for the continued rental of specialist tunnelling equipment and general rental machinery.

Based in Bergen, Norway, provides engineering and service solutions, with a focus on tunnel safety, maintenance, and temporary infrastructure.

AGTunnel AS is a specialist contractor in the Norwegian tunnelling sector, offering services and support for underground infrastructure projects across the country.

Renta Group said the acquisitions align with its strategy to expand its specialised infrastructure machinery rental business, particularly in the tunnelling segment.

It said the agreements are expected to generate sales synergies between its tunnelling specialty operations and its general rental business. 

Leif-Martin Drange, managing director at Renta Norway, said, “The transactions mark another step forward in our pursuit to grow in the attractive tunnelling infrastructure rental market. In addition to growing our fleet, we are particularly excited about strengthening and formalising the cooperation with two reputable companies in the Norwegian market.

“We expect the cooperation with W. Giertsen Services and AGTunnel to be mutually beneficial and to help us drive sales synergies between our specialist tunnelling rental operations and our general rental business.”

The deal follows a series of acquisitions by Renta in the specialist rental segment over the past 18 months, including the purchases of Tunnel Support AS and Tunnel Support Sverige AB, as the company continues to expand its capabilities in complex infrastructure projects.

Renta Group makes specialty acquisition Company “significantly strengthens” tunneling offering