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24 Apr 2018

MCF advises Renta Group on the acquisition of Stål & Hyr Group

Renta Group, a leading Finnish construction equipment rental company, has acquired Stål & Hyr Group from Accent Equity and key employees. Through this transaction, Renta Group, which is majority owned by Intera Partners, is entering the important Swedish market for machine and equipment rental and implementing its declared internationalisation strategy. Cross-border M&A expert MCF advised Renta Group and helped facilitate the transaction through its proven ability to successfully originate and execute bilateral transactions.

“The acquisition of Stål & Hyr is the first step for Renta in its internationalisation strategy. MCF Corporate Finance has provided us with valuable support throughout the entire process when now entering the Swedish market, the largest and most stable rental market in the targeted Baltic Sea region”

Kari Aulasmaa

CEO of Renta Group

The Deal

Renta Group was formed in 2016 through the merger of the three well-known companies Telinekymppi Oy, Kehä-Kone Oy and Jasoca Oy, with MCF advising Intera Partners in the acquisition of Telinekymppi as the platform. The merged group now offers a wide range of construction machinery and equipment rental services. The company aims at substantial growth of its activities and is continuously expanding its branch network across Finland. The acquisition of Stål & Hyr Group marks Renta Group’s first step in establishing international operations to create a strong and agile Nordic player in the construction equipment rental market. Following this acquisition, the pro forma net sales of Renta Group in 2018 are estimated to be approximately EUR 110 mn.

The Target

Stål & Hyr was established in 1979 and is a Swedish rental provider of machinery, tools and equipment, mainly to companies within the construction industry. The company also offers services related to construction sites and equipment; including planning and training, installation of e.g. fencing, temporary heating and electricity as well as modular space. It will continue to operate as an individual business within the Renta Group following the transaction. With its high level of service and broad product range, Stål & Hyr is a perfect fit for Renta Group.

Client Statement

“The acquisition of Stål & Hyr is the first step for Renta in its internationalisation strategy. MCF Corporate Finance has provided us with valuable support throughout the entire process when now entering the Swedish market, the largest and most stable rental market in the targeted Baltic Sea region”, said Kari Aulasmaa, the CEO of Renta Group.

The acquisition is subject to competition authority approval in Sweden and completion is estimated to take place in June 2018. Prior to completion, Renta and Stål & Hyr continue to conduct business as separate entities.

About Renta Group Oy

Renta Group Oy is Finnish rental company which was established in 2016. In Finland it operates through nation-wide network with 28 depots and employs more than 200 persons. Renta is general rental company with wide range of construction machines and equipment and related services. The company produces also scaffolding and weather protection services.

About Intera Partners

Intera is a Finnish growth-oriented private equity firm. Intera seeks to invest in Finnish and Swedish companies with sales of EUR 10 to 200 mn at the time of the investment and where Intera can become a majority owner. Typical investment situations for Intera are acceleration of organic growth and internationalisation of target companies, industry consolidation and generation shifts in family-owned companies.

Intera was founded in 2007 and is owned by its employees. Intera manages three funds with a total capital of EUR 575 mn. Fund investors include leading Nordic and European institutional investors.