Through the acquisition of PEMA, Societe Generale Equipment Finance takes position on the truck rental with services market
Societe Generale Equipment Finance announces the acquisition of 100 % of PEMA GmbH, a truck and trailer rental company which owns a fleet of 15,000 vehicles. The transaction, which was signed on July 3rd is subject to approval by the European Commission.
PEMA, founded in 1976 with its head office in Herzberg, Germany, is one of the forerunners in the rental of trucks and trailers with services such as maintenance and repair of the vehicles. PEMA employs 500 people, serves approximately 4,000 customers and achieved a net profit amounting 22 M€ in 2007. An extended network of 26 contact offices allows PEMA to offer its services in eight European countries: Belgium, the Czech Republic, Denmark, Germany, Poland, Romania, Slovakia and Switzerland. The fleet size has been doubled in the last four years. The need for greater financial flexibility by transport companies should allow this activity to continue to grow rapidly.
Societe Generale Equipment Finance is a European leader for equipment and vendor finance. Present in 23 countries worldwide through an extensive network of more than 100 branches, Societe Generale Equipment Finance has financed new investment worth EUR 10 billion in 2007 and manages more than EUR 22 billion assets. The group serves approximately 170,000 clients in the transport, industrial equipment and high-tech markets, of which more than 60,000 are located in Germany.
Jean-Francois Gautier, Head of the Specialised Financial Services Division of Société Générale,declared: “ We are very pleased with this acquisition, which enables us to build upon the expertise of PEMA in truck and trailer rental with services. It ideally complements our products offering.”
Thomas Manns, Managing Director of PEMA declared: ” The acquisition of PEMA by Societe Generale Equipment Finance will, thanks to the support of an international and specialised finance institution, enable the company to continue its development in order to become a major player in truck and trailer rental with services in Europe”.
The transaction fits perfectly with Societe Generale Equipment Finance’s strategy to broaden its product offering and to propose a flexible and high quality rental with services product to its customers in a context of increasing demand for the transport of goods in Europe.
Societe Generale Equipment Finance was advised by the German M&A team of SG CIB.
Société Générale
Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 151,000 people worldwide in three key businesses:
- Retail Banking & Financial Services: Société Générale serves 30 million individual customers worldwide.
- Global Investment Management & Services: Société Générale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 2 731 billion, Mar. 2008) and under management (EUR 391 billion, Mar. 2008).
- Corporate & Investment Banking: Société Générale ranks among the leading banks worldwide in euro capital markets, derivatives and structured finance.
Société Générale is included in the five major socially-responsible investment indexes.
http://www.socgen.com/
Societe Generale Equipment Finance
Societe Generale Equipment Finance is the international equipment and vendor finance specialist of Société Générale Group. Societe Generale Equipment Finance is a leading player in Europe; it employs more than 2000 people serving more than 170.000 customers in 23 countries in the world. At the end of 2007, Societe Generale Equipment Finance managed EUR 21 billion assets.
http://www.sgef.com/
Societe Generale Equipment Finance Germany
(GEFA Gesellschaft für Absatzfinanzierung mbH)
With new business of EUR 3.1 billion and managed assets of EUR 6.3 billion in 2007, Societe Generale Equipment Finance Germany is one of the leading, manufacturer independent, equipment financing and leasing companies in Germany. The company offers a broad range of products including:
- leasing
- loans
- hire purchase
- inventory finance
- refinancing
- insurance services
http://www.gefa.de/