Swecon acquires rental company Kewab Rental
Swecon Anläggningsmaskiner – part of the Lantmännen group – is broadening its operations through the acquisition of the rental company Kewab Rental. With one of Sweden's largest and widest range of large construction machines for rental and hire purchases, the acquisition creates synergies and the opportunity to meet customers' demand for rental machines.
In the construction industry, demands and requests from customers to rent machines are increasing, a development seen both in Europe and in Sweden. Swecon Anläggningsmaskiner now acquires the rental company Kewab Rental in order to broaden its operations, and the rental business will thus be a strategic part of Swecon's business going forward. In addition to meeting increasing rental demand, the acquisition will increase the supply of used machines, strengthen Swecon's service business and open up for a broader and more competitive offering.
“Through this acquisition, we execute our strategy to meet customer needs while broadening our offering, investing in the rental market and increasing access to used machines. We already have a well-functioning collaboration between the companies and Kewab Rental has many strong customer relationships that we look forward to strengthen further,” says Joakim Arndorw, CEO of Swecon Anläggningsmaskiner.
Kewab Rentals' main focus is long-term rental contracts of Volvo machines.
“Exchanging knowledge with a company like Swecon will be a great asset. Together, we will develop both Kewab Rental and the market as we already see great synergy effects today. It is with great pride that we become a part of both Swecon and the Lantmännen group,” says Michael Herbertsson, CEO of Kewab Rental.
The transaction was signed and closed on May 2.
For more information, please contact:
Joakim Arndorw, CEO Swecon Anläggningsmaskiner
Phone: +46 70 3423 728
E-mail: joakim.arndorw@swecon.com
Fredrik Rigö, Head of market communications, Swecon Anläggningsmaskiner
Phone: + 46 10 556 33 94
E-mail: fredrik.rigo@swecon.com
Lantmännen Press Office
Phone: +46 10 556 88 00
E-mail: press@lantmannen.com
About Kewab Rentals
Kewab Rental, headquartered in Karlstad, is one of Sweden's largest rental companies of large autonomous construction machines. In 2021, the company had sales of SEK 88 million.
About Swecon Anläggningsmaskiner
Swecon Anläggningsmaskiner AB is owned by Lantmännen and is a dealer of Volvo Construction Equipment in Sweden. The Swecon Group is also represented in the Baltic countries and parts of Germany. With approximately 600 employees and 34 service locations in the country, Swecon can offer you a complete range of construction machinery, equipment, spare parts, service and support. With us, you can also get help with favorable financing when buying a Volvo machine. Swecon Anläggningsmaskiner AB has sales of approximately SEK 4.2 billion (2021).
About Lantmännen
Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 19,000 Swedish farmers, we have 10,000 employees, operations in over 20 countries and an annual turnover of SEK 48 billion. With grain at the heart of our operations, we refine arable land resources to make farming thrive. Some of our best-known food brands are AXA, Bonjour, Kungsörnen, GoGreen, Gooh, FINN CRISP, Schulstad and Vaasan. Our company is founded on the knowledge and values acquired through generations of farmers. With research, development and operations throughout the value chain, together we take responsibility from field to fork. For more information: www.lantmannen.com
