Photo: Rental Group
Renta Group has acquired YIT Kalusto, a Finland-based equipment rental company and subsidiary of YIT Corporation, in a €37 million deal.
This in-house company has two warehouses in Urjala and Beikkola, employs 67 people and exclusively supplies equipment to YIT Corporation.
Renta will continue to provide equipment and related services to Finland’s YIT Corporation through YIT Kalusto as part of a long-term cooperation agreement.
The company will also acquire the Urujala facility.
Renta Group CEO Kari Aulasmaa said the acquisition and cooperation agreement with YIT will help strengthen Renta in Finland. “Renta and YIT have already been working together for several years, and this acquisition extends our partnership even further to cover the whole of Finland.
“YIT is a great partner for Renta as we leverage digital solutions to continuously develop high quality and sustainable services. YIT equipment rental companies are known for their high quality services and transfers to Renta We warmly welcome experts.”
Tuomas Mäkipeska, CFO of YIT Corporation, added that the sale means the company can expand its focus on its core business and secure access to a wide range of equipment and digital services. “For several years already, Renta Group has been YIT’s main partner for equipment deliveries in Finland outside of Southern Finland.
“This transaction further deepens our partnership with Renta. The goal of this cooperation is to use low-emission equipment to increase the efficiency of equipment usage, optimize resources and promote sustainability. Our teams involved in equipment services will have better opportunities to develop their skills as part of a larger team of experts. With this transaction, YIT will increase capital efficiency.”