Advised on Purchase of CompanyBuilding Products & Services
Acquired 100% of Business Operations
IMAP Norway advised Renta Yhtiöt Oy on its purchase of Norwegian rental company, Flexleie AS. The Company is owned by a Norwegian private equity company Atlantis Vest together with key personnel. After the acquisition, the pro forma Net Sales of Renta Group in 2018 are estimated to be approximately EUR140 million.
Flexleie was established in 2002 and it operates in the Norwegian west coast, north of Norway and Oslo region. It has also recently started operating in Sweden. Headquartered in Bergen, it operates a network of 6 depots with a strong local presence. Net Sales of the Group is 120 MNOK. Flexleie provides rental services to a wide range of clients in the construction and industrial sectors and is specialized in infrastructure projects.
"The acquisition of Flexleie is the first step for Renta in its expansion to Norway and ensures an entry to this important machine and equipment rental market in the targeted Baltic Sea region. Flexleie is an excellent company and our ambition together is to expand into a nationwide operator in Norway," said Kari Aulasmaa, CEO of Renta Group.
Following the transaction, Flexleie will continue to operate as an individual company within the Renta Group. The CEO of Flexleie, Kato Stien, along with key personnel will continue in their current positions and become minority owners in Renta Group Oy.