The equipment rental company Kiloutou makes its "biggest acquisition" with the acquisition of the Danish GSV

The equipment rental company Kiloutou has announced the takeover of GSV, market leader in Denmark, its "biggest acquisition" and a new stage in its international development.

The acquisition of GSV, which achieves annual sales of 130 million euros, "will allow us to approach one billion euros in turnover", explained to AFP the Executive Chairman of Kiloutou Olivier Colleau. . “I have the hope that during the year 2022 we will exceed this milestone”.

Kiloutou achieved a turnover of 2021 million euros in 793, two-thirds of which from building construction or public works companies.

This operation represents both "Kiloutou's biggest acquisition", said the leader of the company number 2 on the market in France and third at European level.

It is also major for the HLD fund, which holds 69% of the company's capital, added partner Jean-Hubert Vial to AFP.

"Supported since 2018 by HLD and Dentressangle", Kiloutou is taking "a new step in its international development by entering the Danish market", announced the group in a press release published on Tuesday evening.

GSV, market leader in Denmark (22% market share) which has 485 employees and 19 branches, joins the 5.000 employees and 550 sites of the group already present in France, Poland, Spain, Italy and Germany.

So far 18%, the share of turnover generated abroad by the French group will reach 30%: "moderate risk-taking", according to Olivier Colleau, while Denmark is "an economy with little debt and which in our market has solid prospects for the next few years".

The amount of the operation was not communicated by the investment fund or by the company, but it is "around 300 million euros", indicated a source close to the file to AFP.

The acquisition will be financed by drawing on Kiloutou's cash and with "additional lines of financing" without the shareholders adding equity, said Jean-Hubert Vial. Debt will be issued on the financial markets "in a second stage".

The GSV team and the brand, "extremely known to Danish customers", will remain "in place", said manager Olivier Colleau. The Danish company's current boss, Dan O. Vorsholt, will join the Kiloutou Executive Board as the ninth member when the acquisition becomes effective on April 11.