Renta acquires Høyde-Service
Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Høyde-Service Utleie AS (“Høyde-Service” or “the Company”). Høyde-Service is a Norwegian general rental company with four depots located in Oslo, Sandefjord, Porsgrunn and Arendal. The Company has more than 20 employees and annual revenues of approximately NOK 90 million.
The acquisition is another strategic step towards building a nationwide rental network, growing Renta’s presence in the south-east region of Norway, and further strengthening Renta’s market position in the Norwegian market.
Høyde-Service’s customer-centric business model, strong track of profitable growth and complimentary geographic presence makes it an excellent fit for Renta. Høyde-Service will continue to serve its customers with the same local approach and high-quality services as before and further benefit from implementing Renta’s cutting edge digital solutions to enhance their services.
The acquisition is expected to be completed during April.
Kari Aulasmaa, CEO of Renta Group, said:
“We are delighted to welcome the Høyde-Service team into the Group and look forward to working with them. Høyde-Service is an excellent strategic and cultural fit for us, with a complimentary geographic presence and a local focus to the business. The acquisition is a natural step forward to becoming a fully nationwide player in Norway and is a good platform for further development and growth in the south of Norway.”
Steinar Kaalstad, CEO of Høyde-Service Utleie AS, said:
“We are very pleased that Høyde-Service joins forces with Renta, a company that shares our values and has ambitious future plans. Being part of Renta will ensure continued high-quality services for our customers and provide a good home for our employees. I am convinced that together with Renta, Høyde-Service will become even stronger in our region.”