French international rental group Kiloutou has acquired Italian aerial lift and fork truck rental company Sticar, strengthening its market position in northern Italy.
Sticar was established in Padua in 1976 to distribute and service forklifts, it added a rental operation in 1985, and entered the aerial lift market in 1986. It operates from nine locations in Turin, Milan, Verona, Brescia, Venice, Padua, Piacenza, Cesena/Rimini and Bologna covering the regions of Lombardy, Veneto, Piedmont and Emilia-Romagna, with a total of 76 employees. It runs a fleet of 850 aerial work platforms, including self-propelled, truck mounts and telehandlers, plus 475 industrial fork trucks. It also runs a sizeable operator training operation and a fleet of 30 service vans.
The move follows the acquisition of Cofiloc and Euronol in July 2017 and Elevo in June 2018. The company plans to bring all four Italian operations together under the Kiloutou brand, operating from 20 locations, with 220 employees and a fleet of more than 5,000 rental units. The deal requires some approvals but should close by the end of the month.
Chief executive Olivier Colleau said: "This acquisition is fully in line with Kiloutou’s international development strategy aimed at consolidating our positions in high potential markets. It illustrates once again our ability to bring together regional players of very high quality around our development project. Our short term objective is to integrate all of Sticar’s teams and continue its development in the Italian market through organic growth, the opening of branches and the acquisition of strategic players. I warmly welcome the 76 Sticar team members to the Kiloutou group."
Sticar president and shareholder Paolo Stimamiglio added: "We are delighted with the acquisition of our company by Kiloutou. It will enable our two companies to enter a new phase of their development in Italy by combining their strengths and their teams, while continuing to offer the excellent level of service that is the hallmark of our two companies. I personally believe in the Kiloutou development project in Italy, and I am delighted that all our team members can now participate fully. "