Arrex-Beteiligungs-GmbH, a holding company owned by the Renner family, has announced the sale of Theisen Baumaschinen AG (Theisen) to Cramo plc. Financial details have not been disclosed.
Theisen is among the top three providers of equipment rental services in Germany. The rental fleet consists primarily of construction machinery, access equipment and tools. In addition to equipment rental, the company carries out a smaller equipment trading operation. International operations include nine rental depots in Austria, three in Switzerland and one in Hungary.
Cramo plc. is a Finnish listed equipment rental group. Through the acquisition of Theisen, Cramo strengthens its market position in the European equipment rental market. Cramo’s sales in the central and eastern parts of Europe will more than double. Based on the combined goup’s sales, Cramo will be the second largest rental group in Europe.
For the Renner family the deal with Cramo is an excellent opportunity to combine Theisen’s operations with one of the leading companies in the equipment rental market which is capable of taking the business to the next level.
Oaklins' team in Germany acted as the exclusive financial advisor to the Renner family in this transaction.
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