GAM, General de Alquiler de Maquinaria, S.A., has announced plans to go public in a few months and has started an I.P.O. process. Morgan Stanley is the bank selected as Global Coordinating Entity for this operation.
The I.P.O process shall take place through a public stock offer and a simultaneous offer for public subscription, that shall be addressed only to qualified investors in Spain and abroad, in accordance with the applicable legislation. Current shareholders will put up some of their shares for sale and, in addition, a share capital expansion will take place in order to enlarge the financial resources necessary for the growth plans of GAM.
GAM is currently the leading company in the equipment renting industry in Spain, as it has the highest turnover, the largest footprint and the widest range of machines for rent. Moreover, GAM is one of the quickest growing companies in the equipment renting industry in Europe, and one of the top ten in terms of investment volume.
GAM is a project created to overtake a leading position at national level, in the fragmented market of equipment rental. Since the beginning GAM has undergone a continuous growth process, mainly driven by the purchase of new equipment, the opening of new branch offices, and also by a successful process of consolidation realized so far through the acquisition and integration of six firms, leaders of their correspondent market segments.
In addition to its growth rate, GAM is also distinguished by its “One-Stop-Shop” system, where all customers needs can be addressed, regardless of their location. This system is based on the immediate and utter availability of GAM’s products all over Spain. GAM has a total of 51 depots in the Iberian Peninsula. Due to this distributed structure GAM is able to provide a quick and effective respond to its customers.
The main shareholders of GAM are Dinamia and venture capital funds managed by Nmás1, who jointly own 80% of the shares. The remaining 20% of share capital is owned by Cajastur and GAM’s management team.
GAM has achieved a turnover of 126 million Euros in 2005, it has 1.020 employees, a circa 160.000 square meters of office/depots space and 26.000 machines, owned by GAM.
GAM has also started the implementation of six new lines of business: GAM Energía, GAM puertos, GAM verde, GAM eventos, GAM vías and GAM estructuras in order to provide a specialized response to the new needs of customers, following development of the markets.
Based on its potential and past evolution, GAM expects to move forward in the process of admission to the stock exchange market, provided that market conditions are appropriate and beneficial for GAM.
For further information contact Eva Bermúdez, C.O.O.
GAM telephone number: 985732273
Neither this press release nor any single part of it can be disseminated or published in the U.S.A., nor given to any U.S. citizen. Not complying with this restriction might be considered a violation of U.S. law. None of the contents of this press release constitute an offer of equities or an invitation to purchase or subscribe equities. According to U.S. law, a public offering of shares or sale of shares cannot be done unless the applicable requirements for registering a public offering are met or in the case where the public offering should be exempt from registration. It is not GAM’s intention to meet these requirements or make a public offering in the U.S.A. |
