Germany's Losberger acquires Netherlands-based De Boer Structures
Germany's Losberger Holding has acquired Netherlands-based De Boer Structures in a bid to grow its footprint within the temporary structures market
Losberger Holding has agreed terms to acquire De Boer Structures.
The transaction is scheduled to close during Q2 2017, according to a company statement.
The combined entities are expected to boast a joint turnover of approximately $370m (EUR330m), and employ in the region of 1,200 people.
Losberger, a Germany-based provider of temporary warehouse space, said that the acquisition of Netherlands-headquartered De Boer would facilitate efforts to expand its footprint within the event-related temporary structures market.
Significantly expanding its event rental business, Losberger added that it would be able to grow in key regions in Europe and the Middle East.
In turn, Losberger's backing is expected to accelerate De Boer’s goal to strengthen its position in the event business, and expand its product portfolio to grow in industrial and rapid deployment systems (RDS) markets.
The merger will create a strong portfolio that will benefit from increased scale, complementary skillsets, and a broad product portfolio.
Combining the core capabilities of Losberger and De Boer will cover the whole value chain, from engineering, procurement and production to sales and project management.
The new company will be named Losberger De Boer Group, and will be led by a management team that is composed of both Losberger and De Boer.
Berndt Zoepffel, chief executive officer of Losberger, said: ‘We see De Boer as one of the leading companies in the event industry with a high quality product portfolio, strong project management capabilities and an attractive long-term growth potential.
“Both companies have successfully worked together in the past on joint projects and we have experienced their leadership and corporate values to be very similar to Losberger. Combining our companies will make this combination a very professional partner for our customers.”