Since the beginning of 2005, the company headed by Mr. Pedro Luis Fernández, has been continuously expanding, both in Spain and abroad, and has currently 40 depots in Spain and Portugal.
Now, after the recent acquisition of J. Crespo S.A., the oldest firm of Madrid, GAM, in addition to leading the market through an investment of more than 10 million Euros, has 10.000 square meters of additional facilities and an additional fleet of 1.100 machines for rent, that are located in the south of Madrid.
In addition, GAM has incorporated five new offices during the first semester of 2005 in Santiago, Salamanca, Segovia, Mérida and Tenerife. Four new organic openings are planned for the second semester. Altogether there will be 10 new GAM locations.
As to investment, GAM invested 67 million Euros in 2004.
In 2004 GAM has moved up in the European industry ranking from the 48th position to the 28th, being the fastest growing firm in the sector this year. In terms of investment GAM is ranked eighth at European scale. These data show an evolution that should position GAM as one of the top European operators in the near future.
During the first semester GAM’s turnover has experienced an increase of 49’05%.
The Asturian corporation registered a turnover of 87 million Euros last year and expects a increase of 35% for 2005, amounting to 120 million Euros, not counting acquisitions.
Since its foundation in 2003 GAM has been continuously expanding through the acquisition of several companies in an industry that is strongly fragmented and atomized. This fast growth has been possible due to the financial support of the risk capital funds Dinamia and Nmás1, that own 80% of GAM. Other stake holders are Cajastur, with 10%, and the remaining 10% belongs to GAM’s management team.
GAM’s short-term expansion goal includes other acquisitions during the next months.
With more than 24.000 machines and a similar amount of customers, together with an ambitious expansion plan, GAM plans to double its turnover, reaching 250 million Euros in two years time. |
