Boels Rental completed the acquisition of Cramo for €592m.

Boels Rental, an equipment rental company based in Sittard, Netherlands, completed the acquisition of Cramo, a European equipment rental services company, for €592m ($652m). The offer price represents a premium of approximately 31.2% to the closing price of the Cramo share on Nasdaq Helsinki on November 4, 2019. “Our vision is to build a European leader in the equipment rental market. We have a strong conviction in the strategic combination of Boels and Cramo. The combined company will be a leading player in Europe with a business in 17 countries, and a top-3 position in 12 of those. It will be well diversified in terms of customers, business and geographies,” Pierre Boels, Boels CEO.