The crisis does not stop Kiloutou in its ambitions for development abroad. The French specialist in the rental of work equipment is making its biggest acquisition outside its borders.
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Kiloutou acquires its Danish counterpart GSV, the leader in its specialty in Denmark. The amount of the operation has not been disclosed but the management of Kiloutou assures that it is its biggest acquisition and that it will allow it a good progression in terms of turnover.
The French site equipment rental brand is a profitable business that knows how to grow discreetly: the brand with the logo of a large black K on an orange background was created in 1980 by Franky Mulliez. The Mulliez family, owner of Auchan, which is being discussed at the moment with another of its companies in Ukraine, Leroy Merlin. In the Mulliez empire, supported by the other shareholders (Dentressangle and an investment fund), Kiloutou achieves a turnover close to 800 million euros, two-thirds of which is made with building construction companies and public works.
In Denmark, the new acquisition of Kiloutou, the GSV group, has more than 20% market share in the rental of work equipment. Its twenty agencies and nearly 500 employees will therefore join the 5,000 Kiloutou employees already deployed in France, Germany, Italy, Spain and Poland through some five hundred stores.
On a strategic level, the rental of works equipment traditionally follows the evolution of the economic situation in the countries in which it operates. Building and construction are two important indicators. As far as Denmark is concerned, the risk taking is negligible for Kiloutou because the country is today very little indebted and offers good commercial prospects.