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A shift is underway in the Czech Republic’s access platform market as Sico Rent, a leading provider of lifting equipment, has been acquired by Statech, a company within the German Mateco group, which itself is part of the Belgian TVH Group. The sale marks a common trend in the Czech business landscape: founders of family-owned businesses, established over decades, are increasingly opting to sell due to a lack of succession planning.
The decision by Viktor Bělov, the founder of Sico Rent, to sell the company – boasting a portfolio of nearly 600 machines including aerial work platforms, manipulators, bridge inspectors, and forklifts – stems from a desire to transition to a different phase of life. Bělov, who built the company from the 1990s, stated he didn’t want to dedicate another ten to fifteen years to the business. “We either involve the children, or we sell,” he explained, ultimately choosing the latter as his children are still young. This mirrors a growing sentiment among business owners who are reluctant to commit to decades more work.
Sico Rent’s position as a key player in the Czech Republic’s lifting technology sector makes this acquisition significant. The company provides both sales and rental services, catering to a diverse range of industries. The move comes as the market for access platforms continues to evolve, with increasing demand for modern, safe, and efficient equipment.
The Rise of Modern Access Platforms
The Czech access platform market is experiencing a period of change, driven by evolving industry standards and customer expectations. According to industry analysis, new technologies like electric and hybrid platforms are becoming increasingly standard. Firms must invest in modernizing their equipment to remain competitive. This trend is fueled by growth in construction, as well as expansion into sectors like industry and logistics. The acquisition by Statech suggests a commitment to meeting these evolving demands.
Bělov emphasized his belief that working into one’s seventies isn’t desirable, expressing a desire to enjoy life with his wife and family. He expressed pride in the company’s achievements but felt it was time to move on. The sale, finalized at the end of last year, represents a culmination of years of building a successful business.
Expansion Plans for Mateco and TVH Group
The acquisition of Sico Rent by Statech, backed by the Mateco and TVH Group, signals a broader expansion strategy within the European market. Mateco, as part of the TVH Group, is actively growing its presence in the lifting technology sector. The TVH Group is a global player, and this acquisition strengthens its foothold in Central Europe.
The TVH Group, a Belgian holding company, is a significant force in the material handling and lifting equipment industry. The Mateco group specializes in rental and sales of aerial work platforms. The integration of Sico Rent into this network is expected to bring new strategies and innovations to the Czech market.
Impact on the Czech Business Landscape
The sale of Sico Rent is part of a larger trend in the Czech Republic, where founders of established family businesses are increasingly choosing to sell rather than navigate the complexities of succession planning. This phenomenon is highlighted by a similar situation unfolding with outdoor equipment retailer 4camping, which is also attracting potential buyers.
The transition of ownership at Sico Rent raises questions about the future direction of the company and its impact on employees, customers, and partners. While the new ownership is expected to bring fresh perspectives and investment, a period of adjustment is likely as stakeholders adapt to the changes. The company’s long-standing reputation for quality and reliability will be a key factor as the new owners navigate the integration process.
Looking ahead, the Czech access platform market is poised for continued growth and innovation. The demand for modern, efficient, and safe equipment will likely drive further investment and consolidation within the industry. The acquisition of Sico Rent by Statech represents a significant step in this evolution, and its success will depend on the ability of the new owners to build upon the company’s strong foundation while embracing the challenges and opportunities of a rapidly changing market.
What impact will the new ownership have on Sico Rent’s existing customer base? Share your thoughts in the comments below.