Cramo outlines “ambitious” plans for Latvia

Cramo rental manager Dmitrijs Sazonovs. (Photo: Cramo Latvia)

Cramo, a subsidiary of Boels Group, has said that it intends to reclaim a “leading position” in the Latvian rental market and has “ambitious future plans” to do so.

The company re-entered the market following its purchase by Boels in 2019, and has since seen significant growth in the country.

In 2023 its revenue increased by 173% compared to 2022, reaching almost €3.5 million.

According to rental manager Dmitrijs Sazonovs, much of the growth has been driven by significant investment in its fleet, with 2023 seeing the company grow the size of its equipment fleet by 73% to 3,500 units.

The company, which has three depots in the Latvia in the capital Riga, said part of that investment was focused on eco-friendly and low-emission equipment, as well as electric and hybrid machines and “new digital solutions that will allow efficiently manage rented equipment and monitor its usage.”

It said that its fleet, which includes hand tools, earthmoving equipment, MEWPs and compressors, is new, modern and in compliance with the “dynamic market situation” in Latvia. 

Sazonovs said, “We are actively expanding our private customer base by offering everything needed for home renovations, garden improvement, and other maintenance work. Regardless of the project size, we provide professional equipment for everyone.”

As well as Latvia, Cramo has operations in Sweden, Norway, Finland, Estonia and Lithuania.