Cramo accelerates growth in Germany by acquiring leading

Vantaa, Finland, 2018-01-16 08:00 CET (GLOBE NEWSWIRE) -- Cramo Plc Investor News 16 January 2018 at 9.00 am (EET)

Cramo accelerates growth in Germany by acquiring leading German construction site logistics company KBS Infra GmbH

In line with Cramo's Shape and Share strategy to strengthen its business position in the Central European market and to expand its business model by offering value-adding services, Cramo has signed an agreement to acquire 100 percent of the share capital of KBS Infra GmbH and its subsidiaries. KBS Infra is a leading, high-quality construction site logistics company in Germany, with estimated sales of approximately 35 million euros in 2017. The company is headquartered in Mainz, near Frankfurt am Main, and operates nationwide through its 4 sites in Germany. The company has 180 employees.

KBS Infra’s service offering is built around the extensive construction site planning and logistics expertise of its employees. KBS Infra offers extensive construction site facility management and logistics services as well as on-site electricity services, hence being typically the first company to enter the construction site and the last one to leave. The Company is able to offer a range of services starting from the rental of containers as well as other equipment all the way to executing fully fledged construction site planning, vigilance and logistics services, including scheduling of deliveries, access control, management of other on-site subcontractors and arranging 3^rd party rental equipment on behalf of its customers.

The Company’s fleet consists of approximately 6000 containers in addition to extensive amount of on-site electricity equipment and other equipment related to construction site usage. Through its container fleet KBS Infra provides temporary space solutions mainly as site-huts related to construction site logistics services, but also for diverse event-specific applications, schools, daycares, asylum seeker accommodation and offices.

In addition to the significant expansion of Cramo’s site-hut fleet in Germany, Cramo sees significant cross-selling potential for its current equipment rental offering by being able to gain early access to construction sites. Cramo is looking forward to being able to offer KBS Infra’s on-site electricity and site logistics services to Cramo’s current customer base. The cooperation between Cramo’s Equipment Rental segment Central Europe and KBS Infra will also target development of new products, concepts and services, enable know-how sharing between KBS Infra and other Cramo operative companies, as well as excel customer segment expansion across Germany.

“We look forward to work together with the capable team in KBS Infra, and are truly happy of being able to acquire such a reputable and well performing company led by knowledgeable management. KBS Infra is a service-focused construction site logistics company with a lot of important construction-related project business know-how among its staff. The company completes Cramo's total rental offering in Germany and gives us an even better position to compete in the German market”, says Dirk Schlitzkus, Executive Vice President of Cramo Central Europe.

“The acquisition is fully in line with our Shape and Share strategy and will strengthen Cramo's position in the important German market and supports our ambitions to grow profitably. It expands our business model and also enables the development of new customer solutions”, says Leif Gustafsson, CEO and President of Cramo Group.

“I’m happy that the company that I founded fourteen years ago has found a good new owner with Cramo. I look forward to continuing to develop and grow the business together with the excellent people at KBS Infra as well as with our new colleagues at Cramo”, says Oliver Karrié, the founder and Managing Director of KBS Infra.

The transaction is subject to merger control clearance from the German Federal Cartel Office (Bundeskartellamt). Cramo expects that the acquisition of KBS Infra will be closed during Q1 2018.

CRAMO PLC

Leif Gustafsson
President and CEO

Further information:

Dirk Schlitzkus, Executive Vice President of Cramo Central Europe, tel: +49 89 857 98 170
Aku Rumpunen, CFO, tel: +358 40 556 3546
Mattias Rådström, SVP Marketing, Communications and Investor Relations, tel +46 70 868 70 45, mattias.radstrom@cramo.com

Distribution
Nasdaq Helsinki Ltd
Main media
www.cramogroup.com

Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in about 300 depots in fourteen countries. With a group staff around 2,600, Cramo's consolidated sales in 2016 was EUR 712 million. Cramo shares are listed on Nasdaq Helsinki Ltd.