Vantaa, Finland, 2011-12-21 06:00 CET (GLOBE NEWSWIRE) —
Ramirent has acquired Sweden-based TLM (Tannefors Lift- och Maskinuthyrning), a leading machine rental company in the Östergötland region, with annual net sales of about EUR 8.8 million and three rental outlets. The acquisition strengthens Ramirent’s local offering and positioning among small and medium-sized customers.
In the transaction, Ramirent acquired the subsidiaries TLM i Linköping AB, TLM i Norrköping AB, TLM i Motala AB as well as TLM Ställningar AB. Founded in 1977, TLM is a machine rental company specialised in lifts, scaffolding, modules, and light equipment as well as the sale of construction supplies to a wide customer base within the construction, industrial, public as well as consumer sectors. TLM operates in three locations and employs 35 people, who will continue their employment with Ramirent.
“The acquisition is in line with the group strategy of strengthening our geographical footprint and complementing our offering to further diversify our customer base. TLM will strengthen Ramirent’s position in the local market among small and medium-sized construction companies through a good light equipment business, a modern lift fleet as well as a strong scaffolding business,” said Magnus Rosén, President and CEO, Ramirent Group.
”It is a strategic goal of Ramirent Sweden to expand our scaffolding and light machinery business and to this end TLM is a very good fit for us. With the acquisition, Ramirent further strengthens its presence in Linköping and Norrköping, and expands its outlet network to Motala,” said Peter Dahlsten, SVP, Ramirent Sweden.
“By partnering with Ramirent, we will provide even greater value to our customers through a more comprehensive offering of dynamic rental solutions and Ramirent’s one-stop-shop concept,” said Bengt-Åke Nilsson, one of the owners of TLM.
Ramirent is the second largest machinery rental company in Sweden, with annual net sales of EUR 145 million in 2010 and 84 outlets throughout the country.
For further information
Peter Dahlsten, SVP, Ramirent Sweden, tel. +46 31-57 84 32
Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2010, Group net sales totalled EUR 531 million. The Group has some 3,250 employees at some 412 permanent outlets in thirteen countries. Ramirent is listed on the NASDAQ OMX Helsinki Ltd. www.ramirent.com