Together with the management of GSV, Danica and the French Access Capital Partners, the Danish private equity fund CataCap has, today, announced the acquisition and combination of GSV Materieludlejning and Pitzner Materiel. Together they are a one stop shop and hold approx. 20 per cent of the market for rental of heavy equipment which in 2014 had revenues of more than DKK 3 billion. CataCap becomes majority shareholder in the company continuing under the name of GSV Materieludlejning.
Both GSV Materieludlejning and Pitzner Materiel are very strong players in the market. GSV Materieludlejning has provided strong top line growth and earnings resulting from a strong focus on customers and products. Pitzner Materiel has optimised its earnings through implementation of one of the most advanced fleet management systems in the industry. The new GSV Materieludlejning will become a one stop shop with the broadest product portfolio in the market.
GSV Materieludlejning was founded in 1964 and is one of the oldest heavy equipment rental companies in Denmark. It employs approx. 120 people and is domiciled in Ishøj. The company has a broad product portfolio and focuses on providing light and heavy equipment with and without operator to the building and construction industry. Its customers primarily consist of larger contractors.
Pitzner Materiel is the result of the merger between the three companies VMC Pitzner, AGJ Pitzner and Corona Pitzner. The company, which is domiciled in Hedehusene and employs approx. 130 employees, has a broad product portfolio and focuses on platforms as well as workmen’s huts and pavilions. Its customers are primarily found in the industrial and public sector.
The acquisition and merger of GSV Materieludlejning and Pitzner Materiel is CataCap’s fourth investment, and with the French Access Capital Partners and Danica as co-investors, it is the second time that CataCap includes a co-investor in an investment in a Danish business.
CataCap invests in Danish SMEs characterised by a significant development potential and an innovative business model with long-term sustainability.
CataCap operates through an extended organisation in which CataCap’s own employees are supplemented by Operating Partners, Development Partners and Sector Advisors. The teams for each investment are recruited from this group.
Bruun & Hjejle acted as legal adviser to CataCap in both the acquisition of GSV Materieludlejning and Pitzner Materiel.
