H2 Equity sells Workx

H2 and the company began talks with Loxam in the third quarter of last year. Loxam was interested in the business due to the opportunity to consolidate its existing equipment rental business in the Netherlands with Workx.

H2 established Workx in May 2007. The GP took on a buy-and-build strategy for the business, consolidating the Dutch rental market through 11 bolt-ons to form Workx as it stands today.

Loxam is an equipment rental firm for the construction and engineering industries, based in Paris. The group achieved €805m in turnover last year and employs more than 4,400 staff across 13 locations.

The acquisition of Workx will bolster Loxam's market position in the Netherlands.

Company
Headquartered in Zoetermeer, Workx provides general equipment rental services to the construction and infrastructure industries.

The company has a network of 41 branches. It employs 280 staff and generated turnover of €34m in 2013.

People
Marcel Van Kesteren is the managing director of Workx; Gérard Déprez is the CEO of Loxam. H2 investment manager Marnix Berger was responsible for the firm's investment in Workx.

Advisers
Vendor/company – KPMG (Corporate finance); Houthoff Buruma (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Benelux
• Exits
• Support services
• Netherlands
• H2 Equity Partners
• Trade sale