Takuechi Finance Takuechi Finance
Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly plant news

Construction News

Sat April 21 2018

Related Information
Related Information
Related Information
Related Information

News » Plant » Lavendon opens new opportunities to Loxam » published 21 Feb 2017

Lavendon opens new opportunities to Loxam

French construction equipment hire firm Loxam has now acquired 91.5% of the shares in UK powered access giant Lavendon and has claimed the right to compulsorily purchase the remainder.

Loxam’s offer for Lavendon was declared unconditional in all respects on 14th February 2017 and Lavendon has applied for the delisting and the cancellation of admission to trading of Lavendon shares on the London Stock Exchange.

Having now received acceptances of more than 90% of the Lavendon shares, Loxam intends to exercise its rights to acquire compulsorily, on the same 270 pence per share terms as the offer, the remaining Lavendon shares.

The combination of Loxam and Lavendon (which includes Nationwide Platforms in the UK) creates the third largest global player in the powered access rental market, with a fleet of approximately 45,000 units. With a presence in 21 countries worldwide and combined revenues of more than £1.1bn, this transaction bolsters Loxam’s leadership in the European equipment rental market, and opens new opportunities to further develop its activities throughout Europe, in the Middle East, and in the rest of the world, it said.

Loxam president Gérard Déprez said: “We are very happy to officially announce that our offer to acquire Lavendon has been successful. Lavendon is a leading business with longstanding and complementary positions and I am delighted that we will be joining forces going forward. This move is consistent with our strategy to build a geographically balanced business and increase our market share where we are already active. I am very much looking forward to working closely with the talented and experienced management team and employees of Lavendon to build together a reference player in our industry.”

Lavendon Group CEO Don Kenny added: “This acquisition reflects the hard work and commitment of the Lavendon Group management and staff. Lavendon offers Loxam a strong and efficient engine for growth in the powered access market and I believe the combined strength of our two organisations will provide customers with a global network of professional expertise and experience.”




Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 21 Feb 2017 (last updated on 21 Feb 2017).

More News Channels