13 February 2008. General de Alquiler de Maquinaria (GAM) has just acquired a 100% stake in Guimerá S.A.U., the leading Spanish company providing rental services for electric generators and temperature control equipment, for a total of €18 million.
The acquisition signifies a strong drive by GAM's energy division and helps accelerate the growth plans forecast for the coming years. Additionally, the purchase is fully in line with GAM's strategy to develop and strengthen the temporary energy supply market, thus diversifying its revenues. In doing so, GAM's business in sectors other than construction and public works now represents approximately 45% of total revenues for the Group.
According to GAM's CEO, Pedro Luis Fernández, "Guimerá signifies a great development opportunity for our energy division and a clear bid for balance in our sources of revenue. We have acquired a well-consolidated company and a leader in its sector which we hope to strengthen commercially. We are sure that the integration of Guimerá will bring about important synergies and complement our GAM Energía division."
GAM Energía was formed a year and a half ago to become the GAM group's specialist energy supply company. Since then, it has made great strides, taking part in special projects such as lending support to the energy supplier Fesca Endesa during last July’s blackout in Barcelona and the installation of a 7 MVA electric power plant to supply the Andalusia-based cement company CIMPOR during the substitution process of an electrical substation for that company. The group has many other clients as well, including companies such as Unión Fenosa, Elecnor, Cobra, Acciona, and FCC, to name a few.
About Guimerá
Guimerá, previously part of Grupo Atlas Copco, has a network composed of seven branch offices across Barcelona, Tarragona, Lleida, Girona, Amposta, Madrid and Vigo. With over 30 years of experience in the sector, the company has a team of highly qualified professionals, a well-known image and brand and an excellent reputation with its clients for its dedication to service. Guimerá's turnover for the fiscal year 2007 was approximately €14 million.
Guimerá has taken part in highly publicised projects such as supplying energy for three royal weddings, the 1992 Barcelona Olympics and the Mediterranean Games. Additionally, they help cover excess demand for electricity that invariably arises on the Balearic and Canary islands as a result of tourism each summer.
Moreover, the acquired company has an active policy concerning environmental quality and safety, holding several official certifications (ISO 14001 and ISO 9001) vouching for their competence in these areas.
GAM is the leading machinery rental company in the Iberian market; a highly fragmented sector in which GAM is a comprehensive global operator thanks to its extensive network of branch offices. Following its recent acquisitions, and above all, thanks to its steady growth, the company has over 100 branch offices across Spain and Portugal and a fleet of more than 60,000 pieces of machinery made by the best manufacturers on the market. They include dump trucks, electrical equipment, compressors, platforms, self-propelling mobile cranes, handling vehicles, compression equipment, auxiliary equipment and light machinery, amongst others. Additionally, GAM is attempting to diversify its sources of revenue by strengthening divisions such as GAM Eventos, GAM Verde, GAM Energía, GAM Industrial, GAM Estructuras, GAM Vías, GAM Puertos, and Servigam.
For further details:
Covadonga Coto
GAM
ccoto@gamalquiler.com
Tel. (+34) 985 73 22 73
Gonzalo Torres / José Luis González Gavin Anderson & Co.
gtorres@gavinanderson.es
jlgonzalez@gavinanderson.es
Tel. (+34) 91 702 71 70
Mobile: (+34) 661 850 384 |
