Recent months have seen a resurgence of rental merger and acquisitions activity, with companies including Boels Verhuur, Cramo, Ramirent, Loxam and Algeco Scotsman, all making significant acquisitions. The most important deal was definitely Cramo's acquisition of Germany's Theisen Baumaschinen, based in Munich and one of the few national renters in the country. The deal, for a price of €47 million, gives it a significant share of the German rental market plus rental businesses in Austria, Switzerland and Hungary. Theisen had revenues of €85,7 million in 2009 and operates 103 depots. Cramo then followed that up with two smaller transactions in Sweden and Norway, acquiring the Norwegian firm Stavdal Utleiesenter and Sweden's Tidermans Hyrmaskinerm and its sister company Tidermans Hyrmec.
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