Acquisition of equipment rental company HR confirms Loxam’s expansion in Portugal.
The Loxam Group acquired HR – Rental de Equipamentos SA from the GHP Investimentos – SGPS, SA Founded in 1990, HR is a leading company in the general rental of equipment in Portugal. The company has three branches in Portugal, and employs approximately 40 people.
Through this acquisition, LoxamHune, the wholly-owned subsidiary of Loxam that oversees its activities in the Iberian Peninsula, further consolidates its presence in the Portuguese equipment rental market.
This acquisition completes LoxamHune’s existing network in the southern part of the country, and provides nationwide coverage through a consolidated network of six branches.
Hipólito Mendes Pires, President of the GHP Group, commented that “it is an advantage for HR Equipamentos to be acquired by the Loxam Group, one of the world’s leading companies in equipment rental, which will allow it to continue its growth trajectory”.
Luis Angel Salas, CEO of LoxamHune, stated that he was “very pleased to welcome HR into the LoxamHune organization. The geographical complement and expertise of the team fits very well with our existing operations. We will join forces to provide our customers with the best service through an extended network”.
Gérard Déprez, Chairman of Loxam, added that “HR is a long-established player in Portugal, recognized for its technical expertise and operational excellence. I am always pleased to welcome competent and experienced teams to the Loxam group. This acquisition demonstrates Loxam’s commitment to further growth in Portugal”.
GHP has been advised by J+Legal (legal advisor) and Rivage Partners (financial advisor). CS’Associados provided legal advice to Loxam and KPMG acted as financial and tax advisor.
The Loxam Group is the leading equipment rental company in Europe with consolidated revenues of 2,185 million euros in 2021 and 11,370 employees. The Group is the 4th largest player in the world with a network of 1,066 branches in 30 countries on four continents.