06.12.2021

Mills acquires Altoplat

Brazilian rental company Mills is to acquire aerial lift rental group Altoplat, which includes Altoplat Locações de Plataformas Aéreas and Equipamentos e Locação Juceli.

Altopat was established in 2010 and claims to be the largest aerial work platform rental company in Porto Alegre, in Brazil’s southernmost state - Rio Grande do Sul. It also has a depot in Içara, near Criciúmain, Santa Catarina. The company serves a diverse customer base in the region in sectors such as steel, construction, petrochemical and education.

It runs a fleet of 417 boom and scissor lifts, mostly from Haulotte and Genie, with revenues for the 12 months to the end of October of R28.7 million ($5 million), up 54 percent on the same period last year. EBITDA increased by around 70 percent to R16.9 million ($3 million).
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Altoplat operates in Southern Brazil

The deal is structured as an asset purchase transaction, with Mills taking all of Altoplat's relevant equipment, inventories, active rental agreements/contracts, customer base and other related assets. Mills is paying R72.5 million ($12.7 million) in cash for the business.

Mills claims that the acquisition will expand its footprint and provide closer relationship with its customers and diversify its market penetration, while it expands its fleet by five percent. It adds the acquisition 'expands its capacity to negotiate equipment and parts with the main suppliers in the world'.