Stork Sells Equipment Rental Business EQIN to VE Partners
JUN 29, 2020 - 7:33 am
Stork, part of Fluor’s diversified services segment, came to an agreement with VE Partners to sell EQIN, Stork’s professional equipment rental business in Europe. This intended divestiture is pending final approval by the Dutch Authority for Consumers and Markets (ACM).
This transaction is in line with Fluor’s earlier announced plans to divest its construction rental businesses.
“The intended sale is a positive step for both Stork and EQIN,” Taco de Haan, president of Stork, said. “It will allow both companies to focus on their core businesses while continuing to collaborate and work together to serve our mutual clients, and at the same time, providing Stork with greater operational efficiency going forward.”
After final ACM approval, Stork and the new owner, VE Partners, a Netherlands-based private equity firm, will proceed with a transfer of EQIN. The new company will continue to operate as EQIN.
Fluor is a global engineering, procurement, fabrication, construction and maintenance company with projects and offices on six continents.
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