21.04.2015

Loxam buys into Brazil

Europe’s largest rental company Loxam, has acquired a stake in the Brazilian rental equipment company Degraus.

The stake was achieved through the issue of new shares, increasing the company’s capital base and giving Loxam a 25 percent holding.

Degraus was established in 1987 and is among the largest five general rental companies in Brazil, with a strong presence in the state of Sao Paulo, as well as Rio de Janeiro, Recife, Salvador and Porto Alegre. The company operates from a network of 20 branches, with 450 employees and over 300 different product types.

Degraus founder and chief executive Izaac Costa, founder will remain as general manager of the company.

Loxam chief executive Gérard Déprez said: “I am pleased to announce the investment in one of the leaders in equipment rental in Brazil, allowing Loxam to enter a country with significant growth prospects. Our business know-how as well as the financial resources provided through this investment will allow
Degraus to pursue its development and to strengthen its market share”.

Costa added: “I am pleased to welcome Loxam as a shareholder of the company I have been developing for 28 years. We will bring our experience in the Brazilian equipment rental market to Loxam, while we will benefit from the expertise and the strong reputation of the European leader in the equipment rental market. In addition, this transaction will provide our employees with interesting perspectives of evolution”.
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