RERMAG

France’s Loxam Acquires Major Competitor Laho

France’s largest equipment rental company Loxam earlier this month acquired France’s third-largest rental company Laho Equipment from Barclays Private Equity. Laho has 119 branches and annual rental volume of EUR 124 million (about U.S. $165 million).

Loxam, which operates in nine European countries, had 2006 revenue of about EUR 540 million (about U.S. $720 million).

Laho grew its network by 25 branches under Barclays’ ownership.

The combined companies will give Loxam almost 19 percent market share in France, company officials said.

The acquisition is subject to approval from market-competition authorities.

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