Sorainen has advised IK Partners and the Renta Group on the acquisition of the Uprent Group.
According to Sorainen, “the acquisition marks a continuation in Renta’s strategy to be a leading equipment rental company in Northern Europe. With this acquisition, Renta enters specialized pumping, which is an attractive and sizeable rental niche, especially in Poland and the Baltics, where pumping is typically required on construction sites due to wet soil conditions. Geographically, Renta strengthens its position in Poland and gains entry to the Baltics, further broadening its presence in Northern Europe.”
Renta is a Finnish machinery and equipment rental company with operations in Finland, Sweden, Norway, Denmark, and Poland, with over 100 depots and more than 1,000 employees.
IK Partners is a London-headquartered private equity firm focused on investments in Benelux, DACH, France, the Nordics, and the UK.
Uprent is a Latvia-headquartered specialized pumping company in the Baltics and Poland, providing dewatering and bypass solutions for construction, water management, and manufacturing companies, as well as dredging and trench shoring solutions.
“We consider specialized pumping a highly attractive niche rental segment, where Uprent is the clear market leader in the Baltics and Poland,” Renta Group CEO Kari Aulasmaa commented. “We are very delighted to join forces with this high-quality company where we see a talented team and significant further growth potential.”
”We are genuinely glad to become a part of the Renta Group, which adheres to the highest operational standards and has ambitious future plans,” Uprent Group CEO Martins Egle added. “We consider this transaction as a high evaluation of our success until today. Being aligned with the Renta Group in the future provides us with excellent opportunities to expand geographically and to further develop our product range, technical capabilities, and professional expertise.”
The Sorainen team was led by Latvia-based Country Managing Partner Eva Berlaus, Lithuania-based Counsel Jonas Kiauleikis, and Estonia-based Counsel Piret Lappert and included Latvia-based Senior Associates Maris Simulis, Liva Aleksejeva, and Zane Akermane, and Associates Ieva Zarina, Kate Berlaus, and Alise Igale, Lithuania-based Senior Associate Matas Maciulaitis, and Estonia-based Counsel Pirkko-Liis Harkmaa, Senior Associates Britta Retel and Nele Suurmets, Associates Kadri Puu and Liisa Kuuskmaa, and Senior Practice Group coordinator Eva-Maria Kullamae.
Sorainen did not respond to our inquiry on the matter.