Mateco has acquired Spanish aerial lift and crane sales and rental company Afron in an equity purchase acquisition.
The deal is structured with Mateco Spain purchasing 100 percent of the shares in Afron group holding company, Afron Capital
Afron was established in 1980 by Albert Gutknecht and Petra Donoso, to sell and then rent aerial work platforms, as well as telehandlers and mini cranes, initially in Spain, but over the years it has expanded its coverage to Portugal and established subsidiaries in Chile and Panama.
Revenues last year were in the region of €16 million, and the company runs a rental fleet of more than 1,000 units with almost 100 employees working from eight locations in Spain, Chile and Panama. Afron is a distributor or sales agent for Isoli, Platform Basket, Maeda, Ommelift and Haulotte.
Afron owner and chief executive Alberto Gutknecht Donoso said: "We are very
Pleased to be joining forces with the group that we consider as European market leaders in the rental of lifting platforms. Innovation, providing added value service, team work, customer proximity and the safety of our teams, are key factors in our strategic direction and Mateco will continue this policy that it firmly shares with us. By joining our resources and market knowledge, we can focus even more on our customers.”
Carlos Jordà chief executive of Mateco Spain added: "The acquisition of Afron becomes a personal challenge to incorporate the project initiated in 1980 by A. Gutknecht and P. Donoso as our own and to maintain the family spirit, proximity and respect of a team that already exceeds 250 people. "
“This acquisition will continue to strengthen Mateco's business, expanding its coverage in both Spain and Latin America, specifically in countries as Chile and Panama. In Spain, Mateco will extend its presence in strategic areas, such as Andalusia and the Basque country. This new acquisition follows the strategic plan of strong growth of the company in the Iberian Peninsula, with more branch openings planned during the year 2019.”