CRAMO
Acquired by
BOELS RENTAL
CRAMO acquired by BOELS RENTAL
Target
CRAMO
Acquirer
BOELS RENTAL
Context
Boels launched a cash tender offer to acquire all shares of the listed Finnish group Cramo, as a strategic move to create a European leader with combined revenues of EUR1.3 billion and a network of over 750 depots. This deal consolidated the "Top 3" in Europe alongside Loxam and United Rentals (via their European branches).
CRAMO, which reported an EBITDA margin of LOGIN in 2019, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level around LOGIN lower than the 11.1x average currently observed in the Business Services sector.
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
One of European leading equipment rental services companies. Cramo specialized in construction machinery, tools, and modular space solutions (under the Cramo Adapteo brand, although separated shortly before the deal). It operated approx. 300 depots.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with CRAMO
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