Loxam, Europe’s largest equipment rental company, has acquired Nove S.r.l., an aerial equipment rental company from aerial manufacturer Haulotte. Nove was founded in 1998 and controlled by Haulotte since 2006. Nove is headquartered in Rome and has 45 employees in six branches in Italy.
With the acquisition Loxam, which acquired Italian aerial specialist Naranco last year, now strengthens its positions in Italy’s powered access rental market.
“I am delighted to welcome the skilled and experienced Nove team into the Loxam Group,” said Gérard Déprez, president of Loxam. “Nove is a long-established player in Italy and operates an equipment range very well known to the Loxam Group and we will be able to share our mutual expertise. We will join forces to provide our customers with the best service through an expanded network, and build a reference company in the Italian equipment rental market.”
“The divestment of Nove is in line with Haulotte strategic targets and will allow the Group to focus on its core business in Europe,” said Alexandre Saubot, deputy CEO of Haulotte Group. “With this operation, Haulotte reinforces the close relationship built since several years with Loxam. Haulotte would like to thank Nove employees for these years of collaboration and wish them a lot of success with Loxam.”
Loxam is the leading equipment rental company in Europe with unaudited proforma consolidated revenue of €1,435 million in 2017 and approximately 7,900 employees. Loxam’s network of more than 750 branches extends over 13 countries in Europe (France, Germany, the United Kingdom, Ireland, Belgium, Switzerland, Spain, Portugal, Luxemburg, the Netherlands, Denmark, Norway and Italy) as well as in the Middle East, Morocco and Brazil.