Boels Rental announces the planned acquisition of aerial work platform company Riwal. Completion of the acquisition is subject to some customary conditions, including approvals by the relevant competition authorities. The acquisition is part of Boels' ambitious growth strategy to become the largest and best rental partner in Europe.
Boels and Riwal have a strong market position in their respective markets. In countries where both are active, Boels and Riwal will join forces. The acquisition also opens doors to new European markets for Boels, such as Spain and France. Whereas Boels has an unparalleled strong and extensive network in Europe, Riwal is a global player with operations in India and Qatar, among other countries. This geographical expansion, combined with a strengthening of the specialist rental division, positions Boels for further growth towards the future.
Expanding knowledge & expertise
Riwal's expertise in aerial work platforms adds a new dimension to Boels' product and service offerings. With a fleet more than 60% electrified, the acquisition also contributes to Boels' sustainability goals.
"With a combined fleet of more than 55,000 aerial work platforms, complemented by specialist knowledge & expertise, we are able to provide unparalleled service and service that allows our customers to always get on with their project. Regardless of their challenge," said Pierre Boels, CEO Boels Rental.
Shared vision and DNA
The history of Boels and Riwal dates back to 1977 and 1968, respectively. In addition to a family-oriented corporate culture, both companies have experienced strong growth in recent decades and built a well-established reputation in machine rental. The acquisition brings together two companies with similar values and a common vision of customer service: quality equipment for every challenge and readily available. Easily ordered and quickly delivered. "Boels and Riwal are a perfect strategic fit when you look at things like corporate culture, geographic presence and growth opportunities. The acquisition is a testament to the strength and quality of the work we deliver here at Riwal and Manlift." Thus Pedro Torres - CEO Riwal.
Springboard for further growth
With 65 branches and nearly 1,200 expert employees, Riwal adds approximately 310 million euros in sales to Boels Group. The acquisition thus not only ensures geographical expansion and increase in scale, it also strengthens Boels' financial strength and agility. With nearly 830 branches in 27 countries, the acquisition creates a solid foundation for further growth. With a combined fleet value of 3.6 billion euros and a skilled workforce of nearly 8,500 employees, Boels can meet any customer challenge.
