Renta Group Oy (“Renta Group” or “Renta”) is significantly strengthening its position in Denmark through the acquisition of Lohke Materieludlejning A/S (“Lohke” or “the Company”). Lohke is a general rental company, with five depots located in the capital region, Esbjerg and Aarhus. The Company has more than 90 employees and annual revenues of approximately DKK 200 million.
Renta entered Denmark organically in 2021 and with this acquisition, Renta will become the fourth largest general rental company in the Danish market.
Continued strategy execution – an excellent fit for Renta
The acquisition is a natural step in Renta’s strategy to strengthen its position and grow in Northern Europe. Following the acquisition Denmark will become a sizeable segment further diversifying operations and making Renta truly pan-Nordic.
Lohke’s local and lean business model as well as its strong track record of profitable growth makes it an excellent fit for Renta. Lohke will continue to serve its customers with the same local approach and high-quality services as before, while further benefitting from implementing Renta’s cutting edge digital solutions. The strong market position and experienced management team create a solid foundation for continued growth in Denmark.
Kari Aulasmaa, CEO of Renta Group, said: “Lohke is an excellent fit for us as it has grown profitably while maintaining a local touch to business. It’s a platform with a strong market position, a presence in attractive parts of the country and a reputation of providing high-quality services appreciated by its customers. We are thrilled to join forces with the Lohke -team and look forward to the journey ahead.”
Carsten Lohmann, CEO of Lohke, said: “We have been looking for a partner to help us further develop our business and we are happy to say that Renta is the perfect match for us. Renta entered Denmark recently but the management and most of the employees are very experienced rental professionals. Renta has access to capital and products which we previously didn’t have and importantly, Renta shares the same values that we have followed for the past 16 years. We have been working hard on digitalizing Lohke for the past years and are thrilled to get access to Renta’s top-notch digital solutions. With the digital capabilities we will be able to further develop our business helping both employees and customers in terms of “work smarter not harder”. Lohke has a solid customer base, a good reputation and deep knowledge of the Danish rental market. I’m certain that together with Renta we will become even stronger and with time become the preferred partner for customers on the Danish rental market.”
For more information, please contact:
or
Kari Aulasmaa, CEO Renta Group Oy
+358 40 511 6445
kari.aulasmaa@renta.com
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This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this press release, including, without limitation, those regarding Renta or any of its affiliates’ future financial position and results of operations, their strategy, plans, objectives, goals and targets, future developments in the markets in which they participate or are seeking to participate or anticipated regulatory changes in the markets in which they operate or intend to operate. In some cases, these forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “should,” or “will” or the negative of such terms or other comparable terminology.
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