19.10.2016

So who is buying Hune

Spain’s second largest access rental company Hune, is looking for a buyer six years after its lenders took over and five years after talks to merge with market leader GAM collapsed.

Both companies were ‘basket cases’ at the time and no one really believed that putting them together would solve anything. Gam has since reduced its debt burden massively, while Hune only continues with the support of its creditor banks which now want out. They believe that with the market in Spain finally picking up they may stand a chance.

The business is said to have lost €6.4 million last year and has debts in the region of €360 million. It is managed with the help of management consultants Norgestión.

Hune has around has 35 locations in Spain and 600 employees with an overall equipment fleet said to be in the region of 18,000 units, it also has a presence in Spain, Southern France and Lisbon and Porto in Portugal. Santander

Hune started out as Euroloc and was acquired by Advent in July 2006, following which it went through an orgy of acquisitions which included Nacanco, Umesa and Gruas Homs.see Banks move on Hune