BaltCap sells Uprent to Renta, the fastest growing Nordic equipment rental company
BaltCap Private Equity Fund II (BPEF II) signed an agreement to sell SIA Uprent Group – a leading specialized pumping company providing dewatering and bypassing solutions in the Baltics and Poland – to Renta Group Oy. Renta Group is a Finnish construction machinery and equipment rental company with over 100 depots and 1,000 employees in Scandinavia and Europe. BaltCap will sell Uprent Group together with its minority shareholders. Renta Group will acquire 100% of the company.
BPEF II invested in Uprent Group in 2016. During the investment period, the company successfully expanded its network of depots in the Baltics and Poland and broadened the range of service offerings, introducing new and sustainable technological solutions in the market of pumping services.
Sandijs Abolins-Abols, Partner at BaltCap, said that backing Uprent was a unique opportunity to work with a determined management team and founders and develop the company into the leading player in the Baltic and Polish markets. “The team had a very clear strategic growth objective to become a go-to-market player in pumping solutions specializing in high value-added services for dewatering and bypassing needs. We were fortunate to be a part of the transformation, during which the company expanded its geographic reach and grew professionally. We are grateful to the management and founding partners for making this investment successful,” Sandijs Abolins-Abols added.
Kari Aulasmaa, CEO of Renta Group, commented, “We consider specialized pumping a highly attractive niche rental segment, where Uprent is the clear market leader in the Baltics and Poland. We are delighted to join forces with this high-quality company where we see a talented team and significant further growth potential.”
Martins Egle, CEO at Uprent, underlined the importance of having an experienced and professional partner like BaltCap. “BaltCap´s experienced team guided us through the crucial development phase of the company that contained both ups and downs in the market,” Egle commented. “We consider this transaction a high evaluation of our success until today. Being aligned with Renta Group in the future provides us with excellent opportunities to expand geographically and further develop our product range, technical capabilities and professional expertise,” Martins Egle added.
The sell-side advisers in the transaction were Superia (financial) and Cobalt (legal). The transaction value and other details were not disclosed.