TVH Group has signed an agreement to acquire the shares of Industrial Access S.A from Balkan Accession Fund (BAF) and founder and chief executive Stefan Ponea. Industrial Access is an access rental company with activities in Romania, Bulgaria and the Republic of Moldova. This acquisition will further enhance TVH’s services and will also result in increased benefits for the customers.
The completion of the acquisition is still subject to the approval from the merger control authorities in Romania. We expect this procedure to be finalized within a 3 to 4 months’ time frame.
Industrial Access S.A.
Founded by Stefan Ponea in 2005, Industrial Access is the largest independent powered access rental company in the Balkans area. It owns a premium rental fleet across multiple equipment families such as aerial work platforms, earth moving and compaction, fence and accommodation, power, air and water equipment and small construction equipment. In 2007, the company’s founder joined forces with BAF in order to build a strong brand and expand into the regional leading company it is today. The company operates from 8 depots in Romania, 2 depots in Bulgaria and 1 depot in Moldavia. The 70 employees from Industrial Access will join TVH once the deal is closed.
Further development of TVH activities in South-East Europe
TVH entered the Romanian rental aerial work platforms market in 2013 with the acquisition of Romlift. With the taking over of Industrial Access, TVH reiterates its firm belief in the future development of its activities in South-East Europe.
“We are pleased that, with the acquisition of Industrial Access, we are strengthening our specialised rental business, get support for improved operational visibility and excellence, and potentially broaden the range of rental assets we provide to our business partners. We firmly believe that this transaction and the subsequent merger with our existing business will further enhance our services and also result in increased benefits for our customers”, says Pascal Vanhalst, CEO and Member of the Executive Board of TVH.
Stefan Ponea added: "We started in 2005 and managed to become a leading player in our geographic markets. We have now found in TVH a perfect partner that will support us to continue our growth.”