Eastavab to merge with Sweden's Starlight

The Gap Partnership reports.

A tie-up between the two brands will create Norway, Sweden and Finland's leading audiovisual equipment rental organisation, helping the groups to expand their market share and reach new geographies.

The transaction is scheduled to be complete during May 2012, subject to the fulfilment of certain conditions.

According to Reuters, the new group is expected to generate turnover of approximately EUR75 million in 2012.

"Our strategy, together with Eastavab management, is to build a leading player in the Nordic audiovisual equipment rental market. The merger with Sweden's top equipment rental company, Starlight, is a significant step towards achieving this goal,” says Olli Liitola, senior partner at CapMan and responsible for Eastavab investment.

Following the merger, the owners of Starlight will become shareholders in the holding company Eastavab Group.

"We are excited to become part of a large Nordic group. With support from CapMan, the group is well positioned to grow and become a clear market leader in equipment rental across the Nordic region," says Per Eriksson, CEO of Starlight.