Cramo buys small Stockholm renter

Cramo's Swedish business has acquired a small rental company in the eastern Stockholm area. The acquisition will add around €0.7 million sales in its first year.

The acquired company, Lidingö Hyrcenter, operates from a single depot in the harbour area of eastern Stockholm, renting mainly tools for small and mid-sized contractors. Cramo will take on two of the staff, including the previous owner who will be operations manager.

"Although relatively small in size, the acquisition is of strategic importance for our Stockholm operations", says Erik Bengtsson, Managing Director of Cramo Sweden, "The area in which 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 on-going infrastructure projects in the area which give the new depot an excellent platform for future expansion."