Helsinki, Finland-based multi-national rental company Cramo plc has signed a multi-faceted deal with Peab, another major rental provider. Cramo Finland will acquire the majority of Lambertsson Oy’s rental fleet — Lambertsson Oy is the rental operation of Peab in the Finnish market — and has signed exclusive five-year rental agreements with Peab in Finland.

The signed agreements include equipment rental, modular space rental and rental-related services.

Also, Peab in Sweden will acquire Cramo Entreprenadmaskiner business from Cramo, which is Cramo’s operation for providing manned heavy rental equipment in the Swedish market. Peab and Cramo have simultaneously extended their existing rental agreements in the Swedish market for another five-year period.

Lambertsson has rental operations in three main locations in Finland. The fleet range is similar to Cramo’s and the customers, apart from Peab, are other construction companies. The agreement calls for Cramo to take over Lambertsson’s entire rental operation including its employees, with exception of Lambertsson’s tower crane, hoist and mast climber business.

“Peab is a major customer and partner to Cramo Group in several markets,” said Tatu Hauhio, “In Finland, we have a long and strong relationship, which is now further deepened through this agreement. Long-term outsourcing arrangements like this are built on mutual trust and the conviction that it is beneficial for the growth and future development of both parties.”

Cramo Group CEO Vesa Koivula added: “This is our fourth substantial outsourcing agreement during the past half year, which is obviously positive news for the rental industry and for Cramo in particular.”