France’s Loxam Finalizes Acquisition of Spain’s Hune Group

Loxam, Europe’s largest equipment rental company, has finalized its acquisition of Hune Group, a Spanish rental company with 35 branches in Spain. Hune also has eight additional branches in Portugal and France and operates joint ventures in Saudi Arabia and Colombia.

The acquisition strengthens Loxam in Europe as well as the Middle East and Colombia. “I am very pleased to announce the completion of the acquisition of Hune, which will allow Loxam to reinforce its presence and to operate a national branch network in Spain,” said Loxam CEO Gerard Déprez.

Luis Angel Salas, CEO of Hune Group said the transaction “reinforces and widens the company’s growth strategy, which will undoubtedly benefit from the global growth prospects of the Loxam Group.”

Loxam, based in France, has 650 branches in 11 European countries, as well as Morocco and Brazil. Loxam had consolidated revenue of €897 million in 2015, while Hune had €67 million in 2015 consolidated revenue.