RIWAL ACQUIRES SWEDISH RENTAL COMPANY LIPAC

Riwal, the international aerial work platform and telehandler rental specialist, has acquired the Swedish rental company LIPAC. Completion of the acquisition is expected early April.

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Left to right: Søren Rosenkrands (CBDO-Riwal), Per Hedebark (Owner and Managing Director-Lipac), René Timmers (CFO-Riwal)

Lipac was established in 1972 and is specialized in rental of aerial work platforms and telehandlers. The company has five depots in central Sweden, with the head office located in Stockholm. Lipac has 37 employees and operates a fleet of around 1000 machines, including scissor lifts, boom lifts, truck mounted lifts as well as telehandlers.

Søren Rosenkrands, Riwal's Chief Business Development Officer, comments: "Sweden is one of the key target countries in terms of our growth strategy. The acquisition of Lipac will significantly strengthen Riwal's market position in Sweden. Riwal and Lipac are a strong fit as both companies are specialists in powered access and have complementary depot locations. We share the focus on delivering the best customer experience as well as core values such as safety and sustainability. We warmly welcome all of the Lipac employees into the Riwal family."

Per Hedebark, Lipac's Owner and Managing Director adds: "We are pleased that our company is joining forces with one of the global leaders in powered access rental. By pooling our knowledge and resources I am confident that we will be able to further develop our combined business in the Swedish market to the benefit of our customers. Lipac's employees will be able to benefit from new development opportunities within the international Riwal Group".

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