Boels Rental acquires Riwal
Boels Rental is acquiring Dutch rental company Riwal, which will increase annual revenue by approximately €314,000,000 and create 65 branches in 14 countries in Europe, the Middle East and South Asia.
Riwal is being sold by its majority owner ProDelta Investments, a Dutch investment company owned by Doron Livnat. Financial details of the deal were not disclosed.
As a result of the transaction, Boels will enter a number of new markets, including Spain, France, the Middle East and India.
The combined fleet of 55,000 lifts (35,000 from Boels + 20,000 from Riwal) will compare with competitor Loxam's fleet of 71,250 lifts.
Boels will now own the second largest lift park in Europe and the sixth largest in the world.
The completion of the acquisition is subject to certain customary conditions to be fulfilled including, among others, approvals by the relevant competition authorities.
Source:
https://www.riwal.com/en/knowledge/news/boels-rental-acquires-riwal/
