Thus, General de Alquiler de Maquinaria, GAM, headed by Mr. Luis Fernández, becomes a reference through the absorption of this firm. J. Crespo, 100% Spanish-owned, had been so far run by the Crespo family. Last year J. Crespo registered a turnover of 5’4 million Euros, with EBITDA amounting to 55’6%.
The boards of directors of both companies, lead by their C.E.O.’s, Mr. Pedro Luis Fernández and Mr. José Crespo, signed this acquisition agreement last tuesday in Madrid.
After this operation GAM has 10.000 square meters of additional facilities and an additional fleet of 1.100 machines for rent. GAM’s goal is still “The concentration of the Spanish industry under its leadership through an exponential growth”, as reported by the company.
GAM, company based in Asturias, currently employing 800 people, registered a turnover of 87 million Euros and is expecting a turnover growth of 20%, amounting to 108 million Euros. Investment expected to reach 52 million this year. |
