Ramirent Finland Ltd. has signed a long-term cooperation agreement with SRV Group Plc. As part of the arrangement, Ramirent has acquired SRV Kalusto Oy’s entire share capital. SRV Kalusto has 33 employees, and the debt-free purchase price of the company is €21 million (about U.S. $24.15 million).
SRV Kalusto has been acting as an internal equipment rental company in the SRV Group covering approximately one-fourth of SRV’s equipment rentals and related services at the construction sites. The deal between Ramirent and SRV Group Plc covers a significant share of SRV’s actual equipment rentals. In 2017, the net sales of SRV Kalusto Oy was about €8 million.
As part of the agreement, SRV Kalusto Oy’s name changes to Rami Kalustoy Oy.
“In line with our strategy, Ramirent is seeking for profitable growth in our core equipment rental business,” said Mikael Kämpe, managing director of Ramirent Finland. “The today announced agreement perfectly supports our targets and strengthens our leading position in the Finnish construction equipment rental market.”
Ramirent has 300 customer centers in northern and eastern Europe, with 2017 group sales of €724 million. The company is based in Vantaa, Finland.