12.07.2022

Another Spanish acquisition for Mateco

German international rental group Mateco, has acquired Spanish rental company Elevaciones Rama, in all share purchase deal from previous owner Meifus Global Holding, which acquired the business in 2014.

Elevaciones Rama is a leading aerial lift rental in the autonomous region of Galicia - north west Spain, while also offering a range of general construction equipment and tool rental. The company runs a fleet of around 1,500 units with revenues for the past year of around €14 million, while employing at two locations, in the provinces of Pontevedra and A Coruña. The company's aerial lift fleet includes, scissor lifts, booms - both telescopic and articulated- topped by a 180ft Genie SX 180, mast booms, truck mounted lifts on 3.5t chassis, spider lifts and low level lifts.

The acquisition adds a new region to Mateco's coverage in Spain, while providing a toehold in the general construction equipment rental market, with the idea that it might add this service to other locations in the country. The two additional locations take Mateco Spain's branch network to 22.
The company says further expansion is planned over the next 12 months, through both greenfield openings and possibly further acquisitions.
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the deal is completed, (L-R) Armin Rappen of Mateco, Isaac Álvarez of Meifus, Pascal Vanhalst of Mateco, Rafael García of Rama and Carlos Jordà of Mateco

Meifus Global Holding chief executive and owner Isaac Álvarez said: “The human and professional quality of all the people who make up the company. Without a doubt, they have made a difference on a day to day basis and have been the indisputable force to achieving all of the objectives set to date and will continue to be the key to meeting the challenges of the future. I am completely sure that Mateco is the best alternative to continue growing and leave my colleagues in the best hands”.

Mateco Spain’s chief executive Carlos Jordà added: “The acquisition of Elevaciones Rama is the culmination of the relationship we have maintained for many years with the Meifus Holding conglomerate in Spain and South America, and that has transcended from the professional to the personal. The company's philosophy, the culture of the employees and the client portfolio are largely in line with those of Mateco, therefore, we are very proud to be able to continue promoting the great work that has been done.”