Storent acquires Cramo in Latvia and Kaliningrad
AS Storent Investments (Storent), a leading industrial equipment rental company in the Baltics, has acquired the Latvia and Kaliningrad branches of Finnish industrial equipment rental provider Cramo.
Latvia-based Storent, operating in the Baltics, Finland and Sweden, has bought all the shares of Cramo‘s Latvia and Kalingrad branches – SIA Cramo and 000 Cramo Kaliningrad respectively.
The purchased branches include seven offices with 43 employees.
“The companies we bought fit perfectly into Storent’s development strategy through which we can achieve a leading position in Latvia,” comments Andris Pavlovs, co-founder of Storent. “The acquisition of the operations in Kaliningrad meanwhile, open up new opportunities in the area, where the economic activity is growing with the 2018 Football World Championships.”
Storent’s other co-founder Andris Bisnieks, is also satisfied with the acquisitions. “We are happy to integrate Cramo’s professionals into our team,” he states. “We expect to achieve synergy benefits from both the increased technical know-how and increase in personnel.”
Cramo is one of Europe’s leading industrial equipment rental businesses.