Loxam - Hune
LOXAM group in exclusive negotiations for the potential acquisition of HUNE group
The LOXAM Group (Loxam) announces that it has entered into exclusive negotiations with the shareholders of the Hune Group (Hune) for the potential acquisition of Hune.
Hune is one of the leading equipment rental companies in Spain with a network of 35 branches. It also operates branch networks in Portugal, France and joint-ventures in Saudi Arabia and Colombia. In 2015, Hune consolidated revenue amounted to €67 million.
The potential integration of Hune within Loxam will help the company to continue its development and make it benefit from the support of a solid industrial shareholder, solely dedicated to the equipment rental business.
Loxam is the leading equipment rental company in Europe, with over 5,000 employees and 650 locations across 11 countries in Europe, as well as in Morocco and Brazil. In Spain, Loxam already operates a network of 14 branches.
The potential acquisition of Hune would reinforce Loxam’s presence in Spain and would expand its geographical presence into Portugal, Saudi Arabia and Colombia, thereby strengthening Loxam’s positioning as a premier player in the European equipment rental industry.
The proposed transaction remains subject to the signing of a share purchase agreement and the satisfaction of certain condition precedents, which are expected to occur before year-end. Hune and its shareholders, sponsored by Norgestion, are advised by Société Générale and Santander, while Loxam is advised by Rothschild.
LOXAM is the leading equipment rental company in Europe with unaudited pro forma consolidated revenue of €897 million in 2015 and approximately 5,000 employees. LOXAM’s network of 650 branches extends over 11 countries in Europe (France, Germany, the United Kingdom, Ireland, Belgium, Switzerland, Spain, Luxemburg, the Netherlands, Denmark and Norway) as well as in Morocco and Brazil.
Hune is a leading equipment rental company in Spain. It operates a network of 43 branches of which 35 in Spain. The company is also present in Portugal and France, and operates joint-ventures in Saudi Arabia and Colombia. In 2015, Hune consolidated revenue amounted to €67 million.