Losberger and De Boer Structures have reached an agreement that will see Losberger acquire De Boer.

The deal, expected to be finalised in the second quarter of 2017, is subject to the customary approval of competition authorities as well as completion of the consultation process with De Boer’s Works Council.

Together, the temporary structure businesses have a joint turnover of €337 million and employ approximately 1,100 employees.

For Losberger, the acquisition of De Boer will be a major step in becoming a leading provider in temporary structure and space solutions in the event market. Losberger will be able to significantly expand its event rental business and grow in key regions in Europe and the Middle East.

The businesses will now be known as Losberger De Boer Group with both individual brands remaining visible on a product level. The group will also feature an experienced management team, comprised of both Losberger and De Boer top management.

Berndt Zoepffel, CEO Losberger, said: “We consider De Boer a leading company in the event industry with a high quality product portfolio, strong project management capabilities and an attractive long-term growth potential. Both companies have worked together in the past on joint projects and we have experienced their leadership and corporate values to be very similar to Losberger. Combining our companies will make this combination a very professional partner for our customers.”

“De Boer has a strong ambition to grow and expand its current businesses and to enter new regions,” added Arnout de Hair, CEO of De Boer Structures. “In recent years, we have strengthened our partnerships with key clients, developed new innovative structures and have shown our capabilities to manage complex projects and logistics. We have a choice to grow further and to do that on our own, with significant consequences for the required capital and internal resources, or achieve this goal together with a strong and healthy partner. Losberger is the perfect partner for us to realise our ambitions. I am convinced that this transaction is in the best interest of our customers, our employees and our shareholders.”