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05 februari 2020

A strong base for further growth

After today Cramo will be officially part of Boels Rental. Boels' offer for Cramo has been successful with 93,04% of the shares in Cramo having been tendered during the offer period. With this the shareholders followed the recommendation of the Board of Directors of Cramo. The acquisition makes Boels a leading player in the European equipment rental market. For Boels a perfect position for further growth.

European leadership
The acquisition makes Boels one of the largest equipment rental companies with a leading market position in Europe. Since its founding in 1977 Boels is one of the fastest growing rental companies, doubling its business every five years. Now, together with Cramo, Boels will have more than 7.000 employees and over 750 depots in 17 countries.
Pierre Boels, CEO of Boels: “I am excited and proud of closing this deal! It enables us to double our business and increase our market impact. Together with Cramo we can combine rental equipment, data, technology and expertise to improve our service to customers.”

Complementary geographical footprint
The combination of Cramo’s Nordic and Central European business with Boels’ network in Western and Central Europe creates a pan-European equipment rental player. The companies are geographically complementary in presence and client base, with limited country overlap. Which creates a dense depot network close to clients for efficient equipment availability and logistics.

Ready for the future
On operational level the acquisition combines two large fleets, providing customers with an optimized equipment portfolio and increased availability. While accelerating the development of digital technologies and services that add value for customers. Together Boels and Cramo form a strong base for further growth: Pierre Boels: “Our companies have a good fit, both strategically and culturally. We both hold our employees in high regard. And we share the same strategy focusing on building scale locally to secure leading positions in the countries we operate in.”


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