mynth
← DATABASE
12/2022

HR ALUGUER acquired by LOXAM

PORTUGAL Industrial Services / Equipment Rental REV 1m EUR - 100m EUR

Context

Loxam announced on 23 December 2022 the acquisition of HR - Aluguer de Equipamentos from GHP Investimentos. The purchase was made through LoxamHune, the subsidiary that runs the group’s operations in the Iberian peninsula, and brought in a general equipment rental business founded in 1990, operating three branches in Portugal with around forty employees. The deal filled a gap in LoxamHune’s network in the south of the country and gave it national coverage in Portugal through a combined network of six branches. Luis Angel Salas, chief executive of LoxamHune, pointed to the geographic fit between the two businesses and the expertise of HR’s teams, while Hipólito Mendes Pires, chairman of GHP, said joining Loxam would allow the company to continue growing. GHP was advised by Rivage Partners on the financial side and J+Legal on legal matters, while Loxam worked with CS’Associados as legal counsel and KPMG on financial and tax due diligence.

The acquisition of Hr Aluguer is part of the growth strategy of Loxam, which already has several external growth operations under its belt, notably A Geradora Aluguel De MáQuinas in 2022.

HR ALUGUER, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

Founded in 1990, HR - Aluguer de Equipamentos rents general construction and industrial equipment in Portugal. Customers hire machinery and tools for the length of a job rather than buying them, and the company handles delivery, maintenance and technical support from its branches in the south of the country. Its customers are construction contractors, industrial companies and other professionals working on sites across the region.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2022
2021

Similar deals in Industrial Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
03/2023LOXAMJIAB HYRCENTERSWEDENEquipment Rental
01/2023SOLOMAT LOCATIONTERMALOCFRANCEEquipment Rental
12/2022CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBECAKIEMFRANCEEquipment Rental
12/2022ArcadisDPS GroupIRELANDEngineering & Consulting
10/2022LOXAMA GERADORA ALUGUEL DE MÁQUINASBRAZILIndustrial Services
09/2022ELEMENT MATERIALS TECHNOLOGYNATIONAL TECHNICAL SYSTEMS (NTS)UNITED STATESTIC (Testing, Inspection, Certification)
08/2022BAKER HUGHESQUEST INTEGRITYUNITED STATESTIC (Testing, Inspection, Certification)
08/2022OAKLEY CAPITAL INVESTMENTSPHENNA GROUPUNITED KINGDOMTIC (Testing, Inspection, Certification)
07/2022LOXAMARTEIXO MAQUINARIASPAINEquipment Rental
07/2022LOXAMSOFRANELFRANCEEquipment Rental

REFERENCES

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of HR ALUGUER by LOXAM are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: loxam