France’s Loxam to Acquire Italian Aerial Rental Company Nacanco
Loxam, Europe’s largest rental company, has signed an agreement to acquire Italian powered access equipment rental company Nacanco SpA. Nacanco, founded in 2001, is a leader of the Italian market for aerial work platform rental. The company operates a network of 14 branches located in the northern and central regions of Italy. In 2016, Nacanco generated €27 million in revenue (about U.S. $31.8 million).
The acquisition enables Loxam to enter the Italian rental market, consolidating its presence in Western Europe and strengthening its position in the powered access market.
The Giusto family, the founding shareholders of Naranco, will remain a 20-percent shareholder in the company and will continue to support the future development of Nacanco, along with Loxam.
“We are delighted by the forthcoming acquisition of Nacanco, which completes our footprint in Western Europe,” said Gérard Déprez, Loxam president. “Nacanco is well-established player that has contributed to the development of the Italian equipment rental market, thanks to an ambitious growth strategy. We look forward to working with its management team and employees.”
“Since its foundation 16 years ago, Nacanco has built a leading franchise on the powered access rental market, thanks to the commitment of its shareholders and its staff,” said Marzia Giusto, general manager of Nacanco. “This transaction marks the beginning of a new development phase for Nacanco. I am confident that our integration within the Loxam Group will enhance our capacity to consolidate and develop our market position.”
The completion of the transaction, which is subject to the satisfaction of certain conditions, is expected to occur before the end of the year.
Loxam posted unaudited pro forma consolidated revenue of €1,330 million in 2016. It has more than 720 branches in 12 European countries – France, Germany, the United Kingdon, Ireland, Belgium, Switzerland, Spain, Portugal, Luxemburg, the Netherlands, Denmark and Norway – as well as in the Middle East, Morocco and Brazil.
Loxam's recent acquisitions include U.K.-based aerial rental giant Lavendon; Spain's Hune Group; and Cramo's Denmark equipment rental operations.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.