H2 Equity Partners announces the sale of Workx Holding B.V., a leading general rental company, To Loxam B.V.
H2 Equity Partners (“H2”) announces that on July 4, 2014, it completed the sale of its general equipment rental company Workx Holding B.V. (“Workx”) to Loxam B.V. (“Loxam”), the European leader of equipment and tool rental for construction, civil engineering and industry.
Workx is one of the leading general rental companies in The Netherlands focused on the professional market. The company serves its customer base in construction, infra and industry with a modern fleet from 41 locations based on a distinguishing high service offer. Workx has 280 employees and made a turnover of 35 million.
Workx has been part of the H2 portfolio since 2007. H2 executed the buy and build and was actively involved in the integration, professionalization and optimization of the company. Over the past few years Workx has been growing and outperforming the Dutch rental market. This was a.o. the result of the successful introduction of its full service outsourcing proposition. Thereby Workx meets the increased need from the Dutch construction industry for supply chain integration and optimization.
Loxam has been present in The Netherlands since 2006. The group imposed itself as one of the country’s generalist rental operators through the opening of branches and the acquisition in 2011 of Stammis Verhuur. The acquisition of Workx enables Loxam to enforce its current network of 12 branches and its rental offer, and to achieve national coverage of the Dutch market.
KPMG Corporate Finance acted as corporate finance advisor and Houthoff Buruma as legal advisor to Workx and H2 in this transaction.