Flexleie AS acquired by Renta Yhtiöt Oy
Renta Group Oy has on 5 October 2018 signed an agreement to acquire 100% of the shares in Norwegian rental company Flexleie AS. Flexleie was previously owned by Norwegian private equity company Atlantis Vest together with key personnel. After the acquisition, the pro forma net sales of Renta Group in 2018 are estimated to be approximately 140 MEUR.
Flexleie was established in 2002 and it operates in the Norwegian west coast, north of Norway and Oslo region. Additionally, the company has recently started its operations in the Stockholm region in Sweden. The company is headquartered in Bergen and operates a network of 6 depots with a strong local presence. Net sales of the group are 120 MNOK. Flexleie provides rental services to a wide range of clients in construction and industrial sectors and it specializes in infrastructure projects.
“Acquisition of Flexleie is the first step for Renta in its expansion to Norway and ensures an entry to this important machine and equipment rental market in the targeted Baltic Sea region. Flexleie is an excellent company and our ambition together is to expand into a nationwide operator in Norway.”, says Kari Aulasmaa, the CEO of Renta Group.
After the transaction, Flexleie will continue to operate as an individual business company within the Renta Group. The CEO of Flexleie, Kato Stien, and key persons will continue in their current positions and become minority owners in Renta Group Oy.
Carner advised Renta Group Oy in the acquisition process.
Renta Group Oy
Renta Group Oy is a Finnish construction machinery and equipment leasing company established in 2016. Renta operates nationwide in Finland with more than 200 employees in a network of 28 branches.The leasable offering covers a wide selection of construction site machinery and equipment and related services.In addition to a network of leasing branches, the company provides major scaffolding and weather protection as well as site services that both operate through dedicated companies.