Weekly roundup: Kiloutou acquires ToolQuick Alquiler | WillScot board change | hydrogen project

Photo: ToolQuick

As we enter results season, the eyes of many rental companies were turning towards 2025 in the week that was Oct. 24-30, 2024.

That was certainly the case for Kiloutou, which announced the acquisition of Spanish rental company ToolQuick Alquiler.

The deal for Madrid-headquarted ToolQuick adds 30 branches to Kiloutou’s footprint in Spain, including in Barcelona, Alicante, Valencia, Madrid, Malaga and Seville.

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 deal comes some nine years after Kiloutou first entered Spain when it acquired the Rentecnika equipment rental business and also at a time in which the company is reporting significant growth outisde of its domestic market in France.

In other acquisition news this week, Great Hill Partners, the private equity owners of UK-based software company BigChange, has confirmed a “partial sale” of the company. 

The company has owned BigChange since 2021 but is now selling part of its stake to Australian field service management firm Simpro Group.

According to Simpro, which also has operations in the US, UK and New Zealand, the deal strengthens its offering and will enable it to “scale rapidly” globally.

It also adds to its existing offering, which comprises of various tools for job management, scheduling, inventory tracking, invoicing and workflow automation.

It said the addition of BigChange’s portfolio of job management software will allow it to offer more targeted solutions that help customers streamline their operations.

While some companies have focused on consolidation, others have strengthened their operations with new appoints.

Take for example WillScot Holdings Corp, which appointed Worthing Jackman to its Board of Directors. Jackman, who joined the board in early October, will also serve as a member of the Audit Committee.

According to WillScot, Jackman has “diversified leadership experience in businesses that share important characteristics with WillScot, and his appointment adds another Qualified Financial Expert” to its Audit Committee.

Meanwhile, Haulotte’s hydrogen-powered rough terrain scissor lift is being used for the first time at the Saint-Cyr-l’École military school close to Paris.

The work to install external insulation at the site follows a partnership between Haulotte and hydrogen solutions specialist Equans to design a unit powered by a green hydrogen fuel cell.

This lift is equipped with a removable Range Extender, powered by a hydrogen fuel cell, which recharges the batteries.

Rounding up news from thsi week, Caterpillar has announced that sales for its construction industries segment was US$6.34 billion in the third quarter of 2024, a decrease of $654 million, or 9%, compared with $6.99 billion in the third quarter of 2023.

The OEM said that the decrease was primarily due to a decline in sales volume of $458 million and unfavorable price realisation, which accounted for another $147 million.

For the company as a whole, sales and revenues for the third quarter of 2024 were $16.1 billion, a 4% decrease compared with $16.8 billion in the third quarter of 2023.