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TVH GROUP ANNOUNCES THE ACQUISITION OF GARDEMANN FROM LOXAM GROUP

TVH Group (“TVH”) announces the completion of the acquisition of the German activities of the Lavendon Group from Loxam Group (“Loxam”) through the transfer of the entire share capital of Lavendon Holding (Deutschland) GmbH and Gardemann Arbeitsbühnen GmbH (together “Gardemann”).

For TVH, this acquisition represents a unique opportunity to combine the leading brands, mateco and Gardemann, and further consolidate its position in the German market. TVH’ growth strategy is to be active in selective markets where it can become one of the leading specialized rental players.

In line with its strategy to focus on markets where it can achieve leadership positions, this transaction enables Loxam to shift resources to other markets in Europe and in the Middle East, and to allow the development of its general plant rental activities in Germany which remain a core area of focus.

Pascal Vanhalst, TVH Equipment CEO added: “TVH is convinced that this combination will create a successful team with the clear focus on continuously delivering excellent and satisfactory customer services. We welcome all the experienced and motivated team members of Gardemann to participate in the creation of the largest branch network in Germany for the rental of aerial work platforms.”

Gérard Déprez, President of Loxam said: “I am convinced that TVH is a good home for the skilled and experienced management team and employees of Gardemann who have the opportunity to join forces with the German rental leader in aerial work platforms and hence benefit from the growth perspectives offered by TVH.”

       

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