Euroloc is one of Spain’s leading construction equipment rental companies.
Created in 2004 through the merger of nine regional companies, Euroloc was acquired by Advent in July 2006. The market showed good opportunities for growth based on the still moderate equipment outsourcing levels from mid-size construction companies; the civil works investment plans and a good outlook for non-residential building, fuelled by a fast GDP growth. Additionally, there was a clear opportunity for consolidation in a very fragmented market by acquiring selective targets with the aim of transforming the company in a national leader.
Euroloc was one of the only two players with a national presence, leasing some 15,000 units from 28 branches throughout the Iberian Peninsula, the Balearic and Canary Islands, and Morocco. At the time of investment, Euroloc , who had less than 3% market share, was twice the size of its nearest competitor . It was operating within a fragmented market that in 2006, had more than 1,500 players and was leaning towards consolidation.
The company also made a number of selective acquisitions allowing it to diversify into Aerial Working Platform and reduce its exposure to residential building substantially. We divested in 2009.