Renta acquires Uprent
Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire SIA Uprent Group (“Uprent” or “the Company”), a leading specialised pumping company providing dewatering and bypass solutions in the Baltics and Poland. The Company has 13 depots across Latvia, Lithuania, Estonia and Poland. Headquartered in Latvia, Uprent has more than 100 employees and annual revenues of approximately EUR 11 million.
The acquisition marks a continuation in Renta’s strategy to be a leading equipment rental company in Northern Europe. Renta will enter specialised pumping, which is an attractive and sizeable rental niche, especially in Poland and the Baltics, where pumping is typically required on construction sites due to wet soil conditions. Geographically, Renta will strengthen its position in Poland and gain entry to the Baltics, further broadening its presence in Northern Europe.
Uprent is an excellent fit with Renta as it is a professionally managed, high-quality company, with strong profitability and leading market positions. Similar to Renta, the Company has a lean structure and country-driven organisation. Uprent will continue to operate and provide services with the same well-functioning local business model as before. Renta sees significant potential in growing the business in Uprent’s current markets and further scaling operations by expanding specialised pumping into the Nordics, benefitting from Renta’s existing presence.
Kari Aulasmaa, CEO of Renta Group, said:
“We consider specialised pumping a highly attractive niche rental segment, where Uprent is the clear market leader in the Baltics and Poland. We are very delighted to join forces with this high-quality company where we see a talented team and significant further growth potential.”
Martins Egle, CEO at Uprent, said:
”We are genuinely glad to become a part of Renta Group, which adheres to highest operational standards and has ambitious future plans. We consider this transaction as a high evaluation of our success until today. Being aligned with Renta Group in the future provides us with excellent opportunities to expand geographically and to further develop our product range, technical capabilities and professional expertise.”
For more information, please contact:
Kari Aulasmaa, CEO Renta Group Oy
+358 40 511 6445
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