Fluor Corp. (Irving, Tex.) announced that Stork, part of Fluor’s Diversified Services segment, has come to an agreement with VE Partners to sell EQIN, Stork’s professional equipment rental business in Europe. This intended divesture 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 which is progressing as per plan.
“The intended sale is a positive step for both Stork and EQIN. 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,” said Taco de Haan, president of Stork.
After final ACM approval, Stork and the new owner VE Partners, a Netherlands-based private equity firm, will proceed with a swift and smooth transfer of EQIN. The new company will continue to operate as EQIN.