7
NEWS
SHARE PRICES
Start date Previousmth
Currentmth
% change
COMPANY
11/1/06
18/02/15
30/04/15
Acces Industrie (France)
€
0.47
2.96
2.36
-20.3%
Aggreko (UK)
£
2.75
16.79
16.48
-1.9%
Ashtead Group (UK/US)
UK£
1.83
11.11
11.21
+1.0%
Boom Logistics (Australia)
A$
3.70
0.13
0.11
0%
Cramo (Fin)
€
13.0
14.50
16.65
+14.8%
GAM SA (Spain)
€
8.00
0.34
0.37
0%
GL events (France)
€
29.96
17.74
19.40
+9.3%
H&E Equipment
US$
–
23.63
24.72
+4.6%
Kanamoto
Yen
–
3020
3515
+16.4%
Lavendon (UK)
UK£
2.20
1.64
1.74
+0.6%
MobileMini (US)
US$
46.2
41.65
38.54
-7.5%
Ramirent (Finland)
€
23.43
7.13
6.87
-3.6%
SpeedyHire (UK)
UK£
8.32
0.69
0.73
+5.8%
United Rentals (US)
US$
24.9
95.03
96.58
+1.6%
IRN
INDEX
100.0 322.2
328.92
+2.7%
Note: The index is basedonaggregate changes inmarket values of the companies in the list.
The initial index valueof 100 is basedon values on 11 January 2006.
IRN
Rental Share Index
IRNAPRIL-MAY 2015
Kiloutou in
Spainpurchase
France’s Kiloutou group has
entered the Spanish market for
the first time with the acquisition
of theRentecnikaequipment rental
business.
The move by the €450 million
turnover rental company follows
an acquisition in Poland last year
that took its network of agents
past the400mark.
Founded in 1994, Rentecnika
operates out of Barcelona and
Madrid with a rental fleet of
around 5,000. Its customers range
from large building companies
through small and medium-sized
businesses toprivate individuals.
Kiloutou chief executive officer
Xavier du Boys said the company’s
aim was to become one of the
major players inSpain.
“This acquisition is an important
step in our development and
confirms our ambitions abroad.
Rentecnika’s positioning in terms
of products and agency format is
perfect for the changing Spanish
market.”
Santiago del Solar, chairman
of Rentecnika, added: “This will
enable us to accelerate our
development and be able to grasp
many business opportunities as
theSpanishmarket recovers.”
■
Netherlands-based telehandler
and access rental specialist Riwal
has signed a five-year framework
agreement for long term rentalwith
Prangl, a renter of mobile cranes
and aerial work platforms across
Austria and eastern Europe. Prangl
head of business development
Markus Reitermayer said: “We
consider rental as an interesting
alternative to purchasing
equipment and we have made a
well informed decision choosing
Riwal.” Part of the agreement is a
three-year rental deal for 79 JLG
aerial work platforms comprising
electric and diesel scissor lifts,
electric booms and telehandlers.
Prangl will rent the machines to
customer is Hungary, Romania,
Bulgaria, Slovakia and the Czech
Republic.
■
Spanish rental company GAM
has signed an agreement with 11
financial institutions to restructure
its debt. A statement said the deal
reduced its debt to €120 million.
The financial institutions involved
accounted for 92% of GAM’s total
liabilities. The statement continued:
“The company has, through this
agreement, strengthened its
balance and remarkably improved
the situation of its assets. This
will allow it face the future with
confidence and to develop its
business in a more efficient way.”
The business had been adversely
affected by conditions in its
domestic construction market,
which contributed to a 14% fall in
revenues in2014 to€104million.
HIGHLIGHTS
Loxam entersSouthAmerica
with investment inDegraus
France’s Loxam has acquired an
initial 25% share of Brazilian rental
companyDegraus, which isoneof the
top five rental companies in Brazil
with 20 locations and450 employees.
The deal entails a capital increase at
Degraus, allowing it to strengthen its
position in Brazil’s rental market.
Degraus, founded in 1987, is a
general equipment rental company
with a strong presence in the state
of Sao Paulo, as well as the states of
Rio de Janeiro, Recife, Salvador and
PortoAlegre.
This will be Loxam’s first venture
intomarketsoutsideof Europe,where
it already operates in 13 countries. Its
business is still dominated by France,
which generated 80% of total group
sales in 2014.
Izaac Costa, founder or Degraus
as well as its majority shareholder,
chairman and CEO, will remain as
general manager of the company.
Loxammanaging director Stéphane
Henon talks about the move
into Brazil, as well as last year's
acquisitions in Europe, in a special
IRN interview on page 15.
Danish equity fund forms
‘largest rental company’
The private equity fund CataCap,
togetherwithpension fundDanicaand
French Access Capital Partners, has
acquiredandmerged twoofDenmark’s
leading equipment rental companies,
GSV Materieludlejning and Pitzner
Materiel.
Together thecompanies forma “one-
stop shop” and account for nearly
one-fifth of the DKK 3 billion (€402
million) rental market for construction
equipment inDenmark.
CataCap will become the majority
shareholder in the combined company,
which continues under the name
GSV Materieludlejning. GSV senior
managementwill step inas co-owners.
”We’ve had our eyes set on the
very fragmented equipment rental
market in Denmark for a long time,”
said CataCap partner Vilhelm Hahn-
Petersen.
“While GSV has delivered strong
topline growth and earnings through
a sharp focus on customers and
products, Pitzner has optimized
earnings by implementing one of
the industry’s most advanced fleet
management systemsduring the same
period,”headded.
Pitzner said the new companywould
have a market share of 18%, taking it
above the 11%currentlyheldbyFrench
company Loxam.
