French equipment rental group acquires the Portuguese Grupo Vendap and establishes a "strong position" in a new market. Kiloutou will continue to develop the Portuguese segment.
Kiloutou announced this Friday the acquisition of Portuguese equipment rental group Vendap Group, as well as Danish Holbæk Lift. The information was disclosed in a statement, but the amount involved in these operations is not revealed.
“Kiloutou Group, owned by shareholders HLD and Dentressangle signed an agreement to acquire Grupo Vendap, the market leader in equipment rental in Portugal, marking the Kiloutou Group’s entry into a new European market as well as Holbæk Lift, a regional player in Denmark,” it can be read.
The operation was made through “various investment funds and local investors, alongside the senior management team who will be reinvesting”. The acquisition marks a commitment by Kiloutou Group to establish “a strong position in a new country in Europe” as part of its international development strategy.
Kiloutou Group is now looking to further develop its business in Portugal, “through internal growth, new branch openings, an enlarged fleet offering and selective acquisition.”
“We share with Kiloutou the same expertise and the ambition to continuously improve the services we provide to our customers. This acquisition will strengthen our ability to develop in the Portuguese market. Along with our management team, I am proud and glad about this new step forward,” said Francisco Ferreira Do Amaral, CEO of Grupo Vendap.