Renta expands to Sweden
Renta Yhtiöt Oy has on 20.4.2018 signed an agreement to acquire 100% of the shares in a Swedish rental company Stål & Hyr Group AB. The company is owned by a Swedish private equity company Accent Equity together with key personnel. After the acquisition the pro forma Net Sales of Renta Group in 2018 are estimated to be approximately 110 MEUR. The acquisition is subject to competition authority approval in Sweden and completion is estimated to take place by 1.6.2018. Prior to completion, Renta and Stål & Hyr continue to conduct business as separate entities.
Stål & Hyr was established in 1979 and is a general rental provider of machinery and equipment operating in the Swedish west coast and north-western Scania. The Group is headquartered in Varberg and operates a network of 13 depots with a strong local presence. Net Sales of the Group reached 362 MSEK in the previous financial year. Stål & Hyr Group operates locally with two separate brands – Stål och Hyrmaskiner and Dennis Maskinuthyrning.
After the transaction, Stål & Hyr will continue to operate as an individual business company within the Renta Group. The CEO of Stål & Hyr, Joacim Johansson, and key persons will continue in their current positions and become significant minority owners in Renta Group Oy. The transaction will not affect the operations of the company or the position of its almost 100 employees.