Euroloc is owned by private equity company Advent International. It was formed in 2004 through the merger and acquisition of nine regional plant hire companies, in Spain, Portugal, Morocco, the Balaerics and Canary Islands. This move will see it increase its presence in Catalonia, the heavily industrialised region in the north east of Spain, around Barcelona.
Founded in 1972, Gruas Homs is strongest in the north of the region. In 2006, it achieved revenues of EUR21.6m. It is headquartered in Mataró, with depots in Granollers, Pineda de Mar, Vic, Girona, Figueres and La Roca. Prior to the purchase, Euroloc had three Catalan depots, in Barcelona, Girona and Tarragona. This deal will bring Euroloc’s number of depots in the region from three to ten. Across Spain, it now operates in 51 locations.
As well as the new sites and locations, Euroloc will take on more than 110 employees. Former Gruas Homs manager Vicente Homs will head up Euroloc’s Catalan division.
With the new purchase, and that of the Spanish arm of Italian-owned aerial work platform company Nacanco, recently, Euroloc predicts sales in Catalonia in 2007 of EUR30m, and across Spain of EUR160m.
A statement by Euroloc said that the company was planning to build itself into the point of reference for plant hire across the country.
