Boels Rental, one of the largest tool hire firms in Europe, has agreed a deal to acquire aerial work platforms hir specialist Riwal.
Boels says acquiring Riwal fits with its growth strategy and ambitions to become Europe’s undisputed market leader.
The two firms together will have a powered access fleet of more than 55,000 aerial work platforms and 830 branches in 27 countries with a combined fleet value of €3.6bn.
New markets that Riwal brings to Boels include India and Qatar, as well as adding €310m turnover, from 65 branches around the world with and a total of 1,200 employees.
Boels Rentals Ltd has roughly 30 outlets across the UK and turned over £30m in 2022, making a pre-tax profit of £114,000. Riwal, by contrast, closed its loss-making UK subsidiarty last year. Latest accounts for Riwal UK show £11m turnover in 2021 and a £1.4m pre-tax loss.
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