May 2007: Euroloc, the leading construction machinery rental businesses which was recently purchased by private equity firm Advent International, acquires 75% of the share capital of Nacanco, and obtains an option to acquire the remaining 25% in the future.
The transaction represents Euroloc’s first major acquisition in pursuit of Advent’s buy and build strategy in Spain’s fragmented machinery rental market.
Nacanco was constituted in 1982, owns 10 operating bases located throughout Spain and has some 2,600 rental units available to clients. The integration of Nacanco into Euroloc increases Euroloc’s total machinery park to 22,000 units and number of operating bases to 44. Nacanco will form a new Elevating Platform Division within Euroloc which will be headed by Pedro Torres, currently Managing Director of Nacanco.
SOCIOS originates this investment opportunity and advises Euroloc on all aspects of the transaction execution.