Sale of Proffrent AS to 4Service
Deal typeM&A
IndustryProfessional Services
Client nameProffrent AS
BDO Corporate Finance acted as lead advisor to the owners of Proffrent AS in the sale to Eir Renhold (4Service)
In a significant development for the cleaning industry in Northern Norway, Eir Renhold has acquired Proff Rent, consolidating their presence and expanding service offerings in the region. The acquisition, aimed at strengthening Eir Renhold's foothold in the north, brings together Proff Rent's skilled team of approximately 200 employees and their invaluable local expertise under Eir Renhold's banner. At the time of acquisition, the target company boasted an annual revenue of approximately NOK 90 million, coupled with a market-leading EBITA-margin exceeding 10%.
The strategic rationale behind the acquisition includes:
Strengthened Capacity: This acquisition enhances Eir Renhold's operational capabilities in Northern Norway, solidifying its position as a dominant force in the market.
Local Approach Integration: Eir Renhold intends to integrate Proff Rent's effective local strategies into its operations, thereby improving service delivery and fostering deeper community engagement.
Synergies and Growth: By capitalizing on synergies and pooling resources, both companies anticipate unlocking new avenues for growth and broadening their service portfolios in the region.
Seamless Integration: With a shared cultural alignment and mutual values, the integration process between Proff Rent and Eir Renhold is expected to be smooth, ensuring uninterrupted service excellence and continued client satisfaction.
In a significant development for the cleaning industry in Northern Norway, Eir Renhold has acquired Proff Rent, consolidating their presence and expanding service offerings in the region. The acquisition, aimed at strengthening Eir Renhold's foothold in the north, brings together Proff Rent's skilled team of approximately 200 employees and their invaluable local expertise under Eir Renhold's banner. At the time of acquisition, the target company boasted an annual revenue of approximately NOK 90 million, coupled with a market-leading EBITA-margin exceeding 10%.
The strategic rationale behind the acquisition includes:
Strengthened Capacity: This acquisition enhances Eir Renhold's operational capabilities in Northern Norway, solidifying its position as a dominant force in the market.
Local Approach Integration: Eir Renhold intends to integrate Proff Rent's effective local strategies into its operations, thereby improving service delivery and fostering deeper community engagement.
Synergies and Growth: By capitalizing on synergies and pooling resources, both companies anticipate unlocking new avenues for growth and broadening their service portfolios in the region.
Seamless Integration: With a shared cultural alignment and mutual values, the integration process between Proff Rent and Eir Renhold is expected to be smooth, ensuring uninterrupted service excellence and continued client satisfaction.