Nature of Business
Established in 1967, Loxam is a pioneer in rental equipment for the construction and civil engineering industries. In 1997, the business made its first acquisition abroad and the company now employs nearly 4,300 people across c.600 branches in 11 countries.
The company currently has a turnover in excess of €805m and has a fleet of equipment totaling 200,000 items across 1,000 product types.
We invested for a minority share in 2011 because we were attracted to Loxam’s resilience during the economic crisis and its growth potential.
Since our investment, Loxam has successfully completed the acquisition of Locarest, France's fifth largest player in the professional rental market, doubling Loxam’s market share in North Eastern France as well as two acquisitions in the Netherlands and Denmark, which continue their international growth. In 2013 and 2014, we assisted Loxam in its refinancing strategy to successfully raise two high yield bonds of €300m and €660m, to pursue the external growth of the Group.
Our investment also enabled the liquidity of Loxam’s employee shareholder scheme, in turn, strengthening the equity of the company to facilitate significant acquisitions.
Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i France.