Boels exits Russia

Boels Rental subsidiary Cramo has completed the sale of its Russia-based business Fortrent OOO. No financial terms of the transaction have been disclosed.

The sale of Fortrent, previously under the ownership of Fortrent Oy - a joint venture between Cramo and Ramirent - signifies the complete withdrawal of Ramirent, Boels and its subsidiaries from the Russian market.

Cramo, which was acquired by Boels Group in 2020, said the new owner is a private investor.

Founded in 2013 and headquartered in St. Petersburg, Fortrent OOO provides machine rental operations across Russia, operating through 18 locations. Its turnover in 2022 was approximately ₽2.2 billion Russian roubles (€24.5 million).

Its fleet includes generators and heating equipment, aerial lifts, compressors as well as a range of general construction equipment.