Venpa acquires LocaTop

Euan Youdale Editor, Access International

12 July 2024

Venpa, the parent company of GV3, has grown its presence in Italy with the acquisition of lifting specialist LocaTop.

Headquartered in Dolo, Venice, With a fleet of over 4,000 units, including aerial platforms, earthmoving machinery, telehandlers and truck cranes, Venpa has added Medicina, Bologna-based LocaTop to the group, with its 1,600 units.

Venpa’s headquarters.

Focusing on lifting equipmment equipment such as platforms and truck cranes, LocaTop was founded in 2004 by Carlo Cazzola. Today the company has 16 branches located in Emilia-Romagna and Lombardy and more than 100 employees. In 2023 the company’s turnover was €25 million, while EBITDA was €10 million.

LocaTop joins a group composed of 10 other companies: Venpa, Torinoleggi, Tecnoalt, Elevateur, Sicel, MinoEge, Rental Sud, Nolotecnica, Vlog and Audax Doo, with a total of over 35 branches in Italy and three in Croatia.

Together, the GV3 Group achieved a consolidated revenue of €71 million in 2023 and an EBITDA of €25 million.

Expandinf horizons

The group said the investment formed part its growth strategy, with LocaTop strengthening geographical coverage in Central and Northern Italy, thanks to its regional presence. Locatop will retain operational autonomy, with Carlo Cazzola remaining at the helm.

Emanuela Pege, President and CEO of Venpa S.p.A., commented, “We are proud to announce that the acquisition of Locatop Srl has been successfully completed.

Our goal is not only to consolidate what has been achieved so far, but also to expand horizons and create synergies, welcoming new realities already specialized in rental and deeply rooted in their territory. This step marks the beginning of a new phase of collaboration in the rental sector in the Emilia-Romagna and Lombardy regions. Carlo Cazzola, the administrator of Locatop, will be a key element in this new phase, bringing his experience and strategic vision.”

Michele Massaro, Director and CFO of Venpa, said, Venpa is on a path of strategic growth and expansion. “This acquisition represents a significant step in our growth path and allows us to further expand our presence in the Italian rental market. We are excited about this new adventure and look forward to working with Carlo Cazzola and his team to bring Venpa, the GV3 Group and Locatop to new levels of success.”

The Locatop premises

Cazzola added that he was pleased that LocaTop is part of GV3-Venpa’sambitious project. “Thanks to Venpa’s history, Locatop is becoming part of a long-term project destined to create a leading national group that will bring benefits to all shareholders and workers.”