HR ALUGUER acquired by LOXAM

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.