STATEMENT: Boels Rental acquires Riwal

(Information sent by the signatory company).

STATEMENT: Boels Rental acquires Riwal

(Information sent by the signatory company)

Together we will reach higher

SITTARD, Netherlands, March 11, 2024 /PRNewswire/ -- Boels Rental strengthens its position with the possible acquisition of Riwal

Boels Rental, a leading company in the rental sector, is pleased to announce the agreement reached for the future acquisition of Riwal, a prestigious company with extensive history and experience in Mobile Elevating Personnel Platforms (MEWPs). The completion of the acquisition is subject to the satisfaction of certain customary conditions including, among others, the approval of the relevant competition authorities. This strategic move is in line with Boels Rental's ambitious growth strategy to become the number one rental partner in Europe, consolidating its presence in existing markets, expanding into new territories and expanding its MEWP fleet.

Strategic adjustment and market expansion

Both Boels and Riwal hold strong positions in their respective markets. In European regions where presence overlaps, Boels and Riwal will leverage combined experience and resources. But the possible acquisition also opens the doors to new markets, such as Spain and France. While Boels has an extensive European network, Riwal has a global presence, with branches in India and Qatar, among other countries. Following the integration, Boels Group will be positioned to achieve significant growth and profitability thanks to its increased geographic presence and strong general rental base, complemented by specialized rental divisions.

Expansion of the MEWP fleet and experience

Riwal's experience in MEWPs adds a new dimension to Boels' range of products and services. With almost 60% of Riwal's fleet already electrified, the acquisition is in line with Boels' commitment to sustainability. "With a combined fleet of over 55,000 MEWPs and additional expertise and services, we are confident in meeting the highest customer standards. It allows us to offer unrivaled customer service to keep our customers moving forward," said Pierre Boels, CEO of Boels. Group.

A legacy and a DNA with many similarities

Riwal and Boels Group have many similarities in their background and DNA. Boels, since 1977, and Riwal, since 1968, have a long and recognized history in the equipment rental sector. With a shared entrepreneurial and family spirit, both companies have achieved strong growth over the years. The common denominator is to focus on top quality equipment and excellent customer service in a safe and sustainable way. The merger will also bring together two companies that share the same principles and ways of working, providing employees with exciting opportunities for collaboration and personal growth, making the Boels Group an even better place to work. "The strategic fit between Boels and Riwal is impeccable from a cultural, geographic and growth opportunity perspective. The acquisition is a testament to the strength and quality of our work at Riwal and Manlift." Says Pedro Torres – CEO of Riwal.

A platform for growth

The future acquisition places the Boels Group on a higher scale and with greater financial strength, which is crucial to face market challenges and economic volatility. Riwal adds around €310 million in turnover to the group, from 65 branches and almost 1,200 expert employees. This creates a very solid base and a dense network in 27 countries with almost 830 branches. With a combined fleet of €3.6 billion and a large qualified workforce, Boels Group is poised for sustainable growth.

Together we will reach higher

The future addition of Riwal not only strengthens Boels' position in the market and its AWP portfolio, but also strengthens its commitment to customer satisfaction, innovation and sustainability. The increased branch network allows for rapid transportation to any job site to keep customers on the go, while easy-to-use online platforms ensure quick and easy order management. This, combined with the extensive MEWP knowledge and experience that Riwal employees bring, allows Boels to be ready to take on new challenges and reach even greater heights.

About Boels Rental:

Boels Rental is one of Europe's leading rental companies. With its widely diversified range of 860,000 rental items and specializations, Boels always offers a suitable rental solution for every customer. With the most modern and innovative machines and excellent service, Boels exceeds the expectations of all its customers. They do so from a dense international network of more than 764 branches in 18 countries. Boels has about 7,300 employees. With its young fleet, wide range of zero-emission machines and short transport distances, Boels helps its customers build more sustainably and successfully.

About Rival:

Riwal has specialized in safe and efficient work at height since 1968. Over the past decades, the company has become a specialist in MEWPs for multiple sectors. Riwal is present in 14 different countries, has 65 branches with around 1,200 employees and has a rental fleet of approximately 20,000 machines. In addition to the rental, maintenance and sale of MEWPs, telescopic handlers and forklifts, Riwal also sells premium spare parts and provides technical services for the machines, in addition to having its own training centers.

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