Cramo plc, Helsinki, Finland-based international rental player, acquired the rental operations of Stockholm, Sweden-based Lidingo Hyrcenter, Cramo announced last week. The deal includes all rental equipment and related merchandise.
Lidingo Hyrcenter is a well-established rental company with a strong position in the harbour area in eastern Stockholm during the past 15 years. The company primarily rents tools for small and mid-sized customers in the construction industry. The company will switch to the Cramo brand, and Lidingo’s previous owner has been named operations manager.
“Although relatively small in size, the acquisition is of strategic importance for our Stockholm operations,” said Erik Bengtsson, managing director of Cramo Sweden. “The area where the depot is located is a key construction development area, as the present harbour services will be relocated and the area will be developed for residential housing and office purposes. Currently there are several planned and ongoing infrastructure projects in the area that give the new depot an excellent platform for future expansion.”
Cramo expects volume of about €700,000 (about U.S. $895 million) during the next year.
In other Cramo news, the company named Martin Holmgren vice president fleet management and member of the Cramo Group management team. Holmgren joined Cramo in 2003 as product area manager, fleet management.