mateco expands in Spain

mateco has acquired Spain-based Elevaciones Rama from previous owner Meifus Global Holding.

According to mateco, Elevaciones Rama is the largest aerial platform rental company in Galicia; as well as offering general construction machinery and tool hire.

The company was acquired from Meifus Group, which bought Rama in 2014, and has a turnover of around €14 million and a fleet of more than 1,500 units. The companny has 65 people employees located in two branches, in the provinces of Pontevedra and A Coruña.

mateco agrees aquisition of Elevaciones Rama, in Spain.

Isaac Álvarez, owner and CEO of Meifus Global Holding, said the professionalism of its employees had been key to the success of the company and the acqisition by mateco would complement that. “I am sure that mateco is the best solution to continue growing and leave my colleagues in the best hands.”

Carlos Jordà, CEO of mateco in Spain added, “The acquisition of Elevaciones Rama is the culmination of the relationship we have maintained for many years with the Meifus Holding conglomerate in Spain and Latin America.

“The company’s philosophy, the culture of the employees and the client portfolio are largely in line with those of mateco; therefore, we are very proud to be able to continue promoting the great work that has been done”.

The acquisition will allow mateco to continue strengthening its business in Spain by expanding the company’s geographical coverage to Galicia. Likewise, this acquisition will help the company enter the construction machinery rental sector and prepare for potential expansion in that segment.

It is also part of the group’s strategic growth plans in the Iberian Peninsula, where it plans to open new branches during 2022 and 2023, along with further possible acquisitions.