GAM will double its size in a year after the purchase of Vilatel
July 18, 2007
The purchase of Vilatel accelerates the strategy of diversification of business of Gam, given the strength of the learned society in the industrial sector and its practically zero presence in sectors residential and public works. The acquisition also helps to improve the geographical distribution of the income of Gam. Thus, the Group increases significantly its presence and market share in the Mediterranean area, where the company had so far implementation lower than in the rest of Spain.
Vilatel has a total of 14 distributed delegations by Alicante, Cadiz, Barcelona, Castellón, Ciudad Real, Girona, Lleida, Madrid Malaga, Murcia, Seville, Tarragona (company headquarters), Valencia and Zaragoza.
For Pedro Luís Fernández, President of Gam, "this purchase is a very important step in the strategy of the company's growth, both from the quantitative and qualitative point of view, and significantly increases our ability to provide a better and more complete service to our customers".
The agreement gives rise to a company to manage a park of 10,000 platforms. In terms of turnover and in regards to the generalist rental, Gam happens to occupy the 7th position of the European "ranking". Business platforms will be directed by family Marsal, until now owner of Vilatel, which has a great reputation and proven experience in the sector of machinery for rent. The family would hold approximately 7.3% of the capital of Gam once made the exchange of shares provided for in the agreement. According to Pedro Luís Fernández, "the high qualification of managers is for us an indispensable requirement every time that we make a purchase." "In this case, this is precisely one of the main assets that we have identified".