In 2020, VE Partners became the majority shareholder of EQIN, a leading player in the industrial equipment rental market in Western Europe. The acquisition aligned with Stork’s decision to divest EQIN through a carve-out. Operating in the Netherlands, Belgium, and Germany, EQIN not only specializes in equipment rental but also serves as the exclusive importer of Fronius, a renowned manufacturer of welding solutions. EQIN efficiently serves its clientele through eleven branches.
In May 2023, EQIN merged with Indu-Tools, another industrial equipment rental company operating in the Netherlands, Belgium, and France. The strategic rationale behind the merger is the shared belief that, as a unified group, EQIN & Indu-Tools can better cater to the Western European market. This is envisioned through increased investments in digitalization, innovation, and sustainability. Moreover, the consolidation is expected to yield synergies in procurement and digitalization through economies of scale.
Further expanding its presence, the group made another strategic move in November 2023 by acquiring ToolsRent24, based in Ratingen, North Rhine-Westphalia, Germany. ToolsRent24 specializes primarily in the rental of industrial tools and welding machines, contributing to the group’s diverse portfolio.
Even though the merger between EQIN & Indu-Tools only took place in May 2023 and the integration process was just started, discussion with United Rentals International B.V., a wholly owned subsidiary of United Rentals Inc. on a potential acquisition started. The attractive valuation and clear strategic fit convinced VE Partners to enter a sale process. After a successful due diligence process, the transaction was signed and closed on 20th of December 2023.