Kiloutou acquires ToolQuick Alquiler
30 October 2024
Photo: ToolQuick
Kiloutou has announced the acquisition of Spanish rental company ToolQuick Alquiler. No financial details of the transaction have been disclosed.
The deal for Madrid-headquarted ToolQuick adds 30 branches to Kiloutou’s footprint in Spain, including in Barcelona, Alicante, Valencia, Madrid, Malaga and Seville.
Founded in 2009 by José Luís Aliaga, ToolQuick operates a fleet that consists of tools and machines in the smaller range, with much of its fleet made up of electric and zero-emission products.
Kiloutou said the purchase will expand its network and complete its offering with branches dedicated to tools for the construction, renovation and civil engineering sectors.
The ToolQuick branches and 98 members of staff will continue to operate under the existing commercial brand but Kiloutou said they will develop “strong commercial synergies with the network of 26 branches and 300 employees of Kiloutou Spain.”
Cyril Brillouet, managing director, Kiloutou Spain, said, “ToolQuick is our eighth acquisition in Spain but by far the most strategic one. It is one of the few Spanish machinery rental companies with a strong presence in multiple key provinces and with a vocation for growth and expansion.
“Our aim at Kiloutou is to support this growth strategy by combining our offering across the Spanish market and sharing the market knowledge of our teams. I would like to warmly welcome the ToolQuick’s 98 skilled, experienced and innovative team members to the Kiloutou Group.
José Luís Aliaga, CEO of ToolQuick S.L, added, “I am delighted and proud to announce the acquisition of our company by Kiloutou. The transfer will enable our teams to contribute to the growth of the Kiloutou Group with our deep knowledge of the tooling market in Spain and our faithful commitment to innovation.
“I am pleased to see our team and brand continuing their success while benefiting from new and additional investments, services and resources from the Kiloutou Group to continue to expand throughout the rest of the Spanish territory.”
The deal comes some nine years after Kiloutou first entered Spain when it acquired the Rentecnika equipment rental business. Since then it has made a number of notable moves in the country.
The most recent of those came in January when it acquired generalist Valser, adding 42 employees and a fleet in excess of 1,500 units, including earthmoving equipment, lighting towers, generators and pumps, in the process.
At the same time, the company is also growing its footprint in a number of international markets as part of a development strategy in Poland, Italy, Germany, Denmark and Portugal.
The company is also reporting significant growth outisde of its domestic market in France. In April it revealed that revenues outside France increased by 42% to €448 million in 2023, while sales for it French business were up by 8%.
Speaking with IRN earlier this year, Olivier Colleau, executive chairman, Kiloutou, said the company expects that international revenues will eventually outgrow those generated in France.
He added that it is looking to “accelerate the international expansion” through new depot openings and acquisitions but will look to consolidate in exisiting markets before exploring potential M&A opportunities elsewhere in Europe.
On its approach to M&A, he said, “We know that we are in a highly fragmented market. There are large companies, but there are plenty of small companies managed by an entrepreneur who set up the company that one day decides to sell. We are going to continue to make this type of acquisition.”
|
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
