Renta Group makes specialty acquisition

From left to right: Managing Director of Tunnel Support AS/Tunnel Support Sverige AB, Kato Stien, CEO of AMV AS, Peder Andersen, and CEO of Renta AS, Leif-Martin Drange. (Photo: Tor Sindre Tjomlid, AMV AS)

Renta Group has acquired Tunnel Support AS and Tunnel Support Sverige AB, specialists in the rental of equipment to the mining and tunnelling industries in Norway. No financial details have been disclosed.

The company, which is being sold by mining equipment OEM Andersen Mek Verksted AS, will be rebranded as Renta Infra AS and Renta Infra AB.

Prior to the deal, AMV’s rental operations were organised under Tunnel Support, based in Bergen.

Renta said the deal “significantly strengthens” its offering and market position in the tunnelling infrastructure rental segment, adding that tunnel Support is a “growing company with strong profitability and a modern fleet consisting of machines from high-quality OEMs.”

The company said it aims to seek further growth in the rental of specialised tunnelling machines, while also “capturing cross-selling synergies between the company and Renta’s general rental operations.”

Leif-Martin Drange, managing director at Renta Norway, said, “Tunnel Support provides high-quality specialised equipment and has highly skilled employees. I am looking forward to joining forces and combining Tunnel Support’s expertise with Renta’s broad depot network and offering.

“With the acquisition, we will strengthen our overall market position and be able to provide an even more comprehensive offering to the customers of both companies.”

Kato Stien, CEO of Tunnel Support AS, added, “We are looking forward to becoming part of Renta’s professional organisation. We can utilize our specialised equipment and technical expertise while benefitting from Renta’s broad presence and digital solutions. Together, we will be able to offer a complete solution that will help our customers operate more efficiently and sustainably.”