Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade +0.00p +0.00%: 269.50p: 0.00p: 0.00p---0: 01:00:00: Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) Support Services : 248.6: 16.2: 4.9: 54.9: 465: Loxam SAS Offer for Lavendon Group plc. By submitting this form you agree to receive our newsletter. The last numbers for Loxam SA in the French company registry are from December 2015 and show €658 million of revenue, plus shareholders’ equity of €612 million, and financial liabilities of €1.07 billion. Arguably the US construction recovery began earlier, and with more speed, than in many European countries. Loxam's offer, at a substantial premium to the current share price, proves their strong belief in Ramirent's future value creation potential. 0a38.l is listed on the London Stock Exchange, trading with ticker code 0A38. © 2021 Loxam Powered Access. Loxam will make a voluntary recommended public cash tender offer to purchase all Ramirent shares that … Loxam SAS Announces a Recommended Public Cash Tender Offer for Ramirent Plc Shares. The combined company can save many millions of Euros in duplicated head office overheads, and overlapping depot networks. Innovations. Is 7x EBITDA the new multiplier for the European rental industry? Loxam Has Filed its Statement of Claim for the Redemption of Minority Shares in Ramirent at EUR 8.77 per share Ramirent Plc Stock Exchange Release October 8, 2019 at 4.00 p.m. EEST August 13, 2019 of the issued share capital of Lavendon as at 17 January 2017. This sounds high but compared to the likely EBITDA annual run rate of say, US$470 million (€441.63 million) – using Lavendon’s 2015 34.5% of revenue – the debt would be 3.81x EBITDA. Loxam offer for Lavendon declared unconditional . Loxam, which had made its interest in Lavendon known in late November, offered 220 pence for each Lavendon share, just shy of the stock’s closing price of 220.50 pence on Tuesday. Why would Loxam pay more for Lavendon than its relatively steady £1.34 (€1.58) October 2016 share price? To log on, please click here Proforma revenue signifies the number ‘as if’ the business had been acquired and been inside the group for an entire year. It corresponds to a premium of 65.4 percent compared to the most recent closing share price. Welcome to your PLATFORM ! The first answer is synergies. Before bidding broke out, Lavendon’s share price was 139p. On 14 December 2016, the boards of directors of Lavendon and Loxam announced that they had reached agreement on the terms of a recommended all cash offer for the entire issued and to be issued share capital of Lavendon by Loxam, to be implemented by way of a takeover offer under the City Code and within the meaning of Part 28 of the Companies Act 2006 (the "Original Offer"). US$40 million (€37.59 million) is 11% NES 2016 revenue of US$369 million (€346.72 million), or 26% of the EBITDA of US$155 million (€145.64 million). French industrial equipment supplier Loxam SAS announced on Monday a recommended public cash tender offer for all shares in Finland's Ramirent at 9 euros per share, a 65% premium in comparison with Friday's closing price. This is reflected in higher EBITDA percent to revenue for United and Ashtead compared to the Europeans. Sign up free and add LVDB share price to … United Rentals recently acquired NES in the US, and made special emphasis in its investor presentation that US$40 million (€37.59 million) of identified annual cost synergies expected to be realised by end of year two. We are the leading powered access rental company in Europe and the Middle East. Xontro trading starts at 8:00 CET.Prices are published 15 minutes delayed. The deal is at a substantial premium to the recent share price. End-of-day quote NASDAQ OMX HELSINKI LTD. - 12/20: 8.77: EUR : 0.00%: 2019: RAMIRENT OYJ: Arbitral Tribunal Has Confirmed Loxam S.A.S. Has Gained Title to All Shares in Ramirent Plc and the Shares Will Be Delisted from Nasdaq Helsinki: AQ. We find Loxam's offer of EUR 9.00 per share to be attractive. Lavendon produced a costly annual report of over 120 pages including audit committee, remuneration committee, and nominations committee reports. Brox. For free real time prices please register here . It is important to know which tenses are to be used in these clauses and they play a big role in determining the meaning of the sentence. Jeff Eisenberg has been in the equipment rental industry since the mid-1990s, when he established Genie Financial Services. Loxam Has Filed its Statement of Claim for the Redemption of Minority Shares in Ramirent at EUR 8.77 per share Ramirent Plc Stock Exchange Release October 8, 2019 at 4.00 p.m. EEST August 13, 2019 • 67.6 per cent. Since conditional conjunctions preface clauses that are dependent upon some sort of action, it comes as no surprise that one … ProLift Rigging Company has acquired the U.S. operations of Entrec Cranes & Heavy Haul, The company expects to complete its sale of the AMECO business within first half of 2021, The agreement will market and design innovative nuclear technology from NuScale Power, New models designed to meet the needs of operators who want high-tech features as well as those who prefer lower costs, Despite 16% drop in 2020 revenues, engine manufacturer expects 8-12% revenue increase in 2021, We use cookies to give you the best viewing experience. The recommended … Dow Jones 30. ENERGI Fenestration Solutions. To find out more about how we use cookies, please visit the cookie policy page. The numbers in the graph below are a mix of 2016 EBITDA and 2017 Market Cap and EBITDA and debt depending on when companies report, but the illustration is hopefully useful. (or such lesser percentage as Loxam may decide, but not being less than 50 per cent. For Lavendon, we can’t see the monthly EBITDA, so 2015 actuals and 2016 estimates are included. to the volume-weighted price of 131.3 pence for each Lavendon Share for the twelve month period ended on 21 November 2016 (being the last Business Day prior to the start of the Offer Period). Nasdaq 100. The simple answer is that it’s not so easy to see. In this case, the synergies, plus US$35 million (€32.89 million) of cross-selling opportunities of other products to NES customers, would alone pay for the US$965 million (€906.74 million) cost of the company in 13 years. Lavendon and Loxam operate in several of the same markets, including the UK, Germany, France, and Belgium. Need Data? Part of the Loxam Group. Click, Information that builds and powers the world, jeff@claremont-consulting.com +44 7900 916933, Fluor, Sargent & Lundy partner for nuclear project, Wilhelm takes delivery of two new Grove GRT655L models, Cat’s three new small excavators cover the bases. Loxam, which had made its interest in Lavendon known in late November, offered 220 pence for each Lavendon share, just shy of the stock’s closing price of 220.50 pence on Tuesday. Many rental company acquisitions during the pre-2008 boom were 6x EBITDA or above. Bespoke attachments for a wide range of industries demonstrates our forward thinking and experience. I applied online. However, the presence of major companies, such as Loxam, trying to expand their market presence in Europe is expected to boost the construction equipment rental market growth. Loxam is reckoned to be the largest equipment rental company in Europe, with €838m of revenues generated in 2015. To this, we add Lavendon’s own debt from their third quarter report, compared to either the last full year EBITDA (2015) or the estimated 2016. 's Redemption Right Regarding Ramirent Plc Shares, Loxam S.A.S. Competitors were also able to read the Lavendon annual reports and disclosures of how much acquisitions cost, and which markets are most profitable. Today’s OAR share price, stock chart and announcements. The Loxam family name was found in the UK, and Scotland between 1891 and 1901. What was the EBITDA multiple of this transaction? Paris-based Loxam was Europe’s largest equipment rental company even before acquiring Lavendon, having bought the rental businesses from Hertz and Hune. It has a market capitalisation of £0.00, with approximately 0.00 shares in issue. Interview. The payment of the coupon will take place 2.0 times per biannual on the 15.12.. MDAX. Our products. Loxam focuses primarily on the construction and civil engineering sectors, It is debatable whether to use Lavendon’s previous year EBITDA or current year EBITDA, or even the trailing 12 months. Dollar. All rights reserved. However, yesterday (15 December 2016) TVH offered 230p per share for Lavendon's entire shared capital, putting a price tag of £391m on the company. For example, it may rent generators via existing Lavendon depots in Saudi Arabia, or get into event rental in the United Kingdom. Nikkei 225. Most rental company valuations and acquisitions use the enterprise value/EBITDA multiplier calculation to compare companies with different depreciation policies and debt structures. The combination of Ramirent with Loxam S.A.S will create an equipment rental leader in Europe, and the combined entity will also … His Claremont Consulting business advises financial institutions, investors and rental companies. Stocks open higher, Dow adds 250+ points, or 0.8%, while silver prices extend gains . The offer price in the tender offer is EUR 9.00 in cash per Ramirent share, valuing Ramirent’s equity at approximately EUR 970 million. Use a comma after the if-clause when the if-clause precedes the main clause. Our products. No doubt Loxam has done similar calculations, but as they are a private company they do not have to show them outside their inner circle of investors and bankers. Loxam has multiple categories of equipment in different markets, and may cross-sell. For example, the Loxam acquisition of Hertz France and Spain equipment rental business was completed in October 2015, so all the debt would be on the balance sheet but with just a few months of revenue and EBITDA. Bespoke attachments for a wide range of industries demonstrates our forward thinking and experience. The most Loxam families were found in the UK in 1891. Bespoke attachments for a wide range of industries demonstrates our forward thinking and experience. Using the information available, we see the value of the shares on 21 October, before any bidding or rumours, then at the first TVH offer of £2.05 (€2.42) per share, compared to the final £2.70 (€3.18) from Loxam. We have recently updated our website and if this your first time logging in this year you will need to set a new password. The equipment we provide enables customers to work safely, productively and comfortably at height. The Middle East was Lavendon’s most profitable region, where Loxam had no presence, and is a market for used equipment, potentially from Loxam’s other markets. This ratio is not low but not frightening either. Plateforme process du groupe LOXAM. Since 2000 his roles include rental company director, shareholder, advisor, consultant and even equipment operator. And as market leader in several European and Middle Eastern markets, plus being publicly traded, with some growth, it was one of the benchmark multipliers for the European rental industry. Arrange the date by phone and the interview was very polite and easy, it was a interview with two interviewers, one of them was the manager of service and fitters Even up to £2.70 (€3.18) per share and at 7x EBITDA, the multiple compares reasonably to Ashtead and United Rentals. Lavendon and Loxam operate in several of the same markets, including the UK, Germany, France, and Belgium. Intraday 1 Week 1 Month 3 Months 1 Year 5 Years Overall Sources: Company annual reports, share prices at 11 Apr 2017. • Loxam is the largest equipment rental company in Europe, with €838 million of revenues generated in 2015. Many negotiations on company valuation included ‘Why should a given company have a higher EBITDA multiple than Lavendon, at today’s share price?’. Real Estate & Construction - Private. 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