The earth moving equipment industry in Europe is essential for construction, mining, and infrastructure development. It includes companies that manufacture and lease machinery such as excavators, bulldozers, and graders. This sector is increasingly adopting greener technologies to meet sustainability goals, driven by regulations and consumer demand. As urbanization accelerates and investments in renewable energy increase, the industry is evolving. Notably, advancements in automation and smart technology are enhancing efficiency and safety. Furthermore, the increasing complexity of construction projects suggests a growing need for specialized equipment and services that orthodox players are keen to capture.


The investment landscape for earth moving equipment in Europe features a mix of corporate and private equity firms. With headquarters across cities like London, Stockholm, and Paris, these investors vary in size, from compact teams to extensive organizations with thousands of employees. Founded from as early as 1945 to as recently as 2021, their investment strategies have led to a robust number of transactions, with notable firms showcasing their commitment to this sector. In 2024 alone, investment volumes included substantial deals, underscoring the relevance of these investors in driving market trends and innovations.


Top 19 Earth Moving Equipment Investors in Europe


1. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company operates as an industrial group that focuses on developing and acquiring companies with high technical expertise across various sectors, including technology and industrial products. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notably, Indutrade has made several acquisitions relevant to the earth moving equipment sector, including Ingenjörsfirman Geotech AB, which specializes in geotechnical field equipment, and Geomek Stockholms Geomekaniska AB. These acquisitions highlight Indutrade's commitment to enhancing its portfolio in areas that support earth moving activities, thereby reinforcing its relevance in this industry.


2. Crédit Mutuel Equity


Crédit Mutuel Equity is a private equity investment firm based in Paris, Île-De-France, France, founded in 1988. The firm focuses on providing capital and strategic support to businesses across various sectors, integrating economic and ESG considerations into their investment strategies. Notably, they have been involved in several transactions relevant to the earth moving equipment industry. For instance, they invested in Occarent, a company that specializes in leasing equipment to professional clients, which aligns closely with the earth moving equipment sector. Additionally, their investment in Manuloc, which raised over $101 million, indicates their engagement with companies that may operate within the equipment leasing and sales space. Other transactions, such as those with ARAMINE and Accès Industrie, further demonstrate their diverse investment portfolio, which includes companies that may intersect with the earth moving equipment market.


3. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has been involved in significant transactions relevant to the earth moving equipment industry, including the acquisition of Royal Reesink Group, a distributor of machinery and equipment, which highlights their engagement in this sector. Additionally, their acquisition of DYWIDAG-Systems International, a leading systems supplier in civil engineering and underground construction, further emphasizes their interest in industries that intersect with earth moving equipment.


4. RSK Group

  • Website: rskgroup.com
  • Type: Corporate
  • Headquarters: Helsby, England, United Kingdom (UK)
  • Founded year: 1989
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: rsk-group

RSK Group is a corporate investor based in Helsby, England, specializing in environmental consultancy and engineering services. Founded in 1989, the company has grown significantly, employing over 10,000 people and expanding its portfolio to nearly 180 businesses. RSK Group provides a wide range of services, including environmental assessments, engineering solutions, and sustainability consulting across various sectors such as energy, healthcare, and construction. Notably, RSK Group has made strategic acquisitions to enhance its capabilities in the engineering and infrastructure sectors. In October 2023, RSK acquired RJT Excavations, a Scottish civil engineering contractor, which is expected to bolster their engineering services and may involve the use of earth moving equipment in their projects. Additionally, RSK has acquired other companies like Electrokinetic and Adenco, further expanding their service offerings in the engineering domain. These transactions highlight RSK Group's commitment to enhancing its engineering services, which are closely related to the earth moving equipment industry.


5. Crh

  • Website: crh.com
  • Type: Corporate
  • Headquarters: Dublin, Dublin, Ireland
  • Founded year: 1970
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: crh

CRH plc, based in Dublin, Ireland, is a leading building materials company founded in 1970. With over 10,000 employees, CRH manufactures and supplies a diverse range of products for the construction industry, serving municipalities, contractors, and developers globally. The company has been actively expanding its portfolio through strategic acquisitions, including Mulzer Crushed Stone Inc., a major aggregate producer in the U.S., which they acquired in 2017 for approximately $531 million. In 2024, CRH acquired the mineral rights to the San Rafael Rock Quarry in California, further enhancing their capacity in the construction materials sector. Additionally, their acquisition of Tarmac, which included production sites in 11 countries, demonstrates their commitment to expanding their operational footprint in the construction industry. These transactions highlight CRH's involvement in sectors that are closely related to earth moving equipment, as they provide essential materials for construction projects that require such machinery.


6. IK Partners

  • Website: ikpartners.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 14
  • LinkedIn: ik-investment-partners

IK Partners is a private equity firm based in London, England, specializing in mid-market investments across Europe. Founded in 1989, the firm focuses on providing capital and strategic support to businesses in various sectors, including Business Services, Healthcare, Consumer, and Industrials. Notably, IK Partners has been involved in several significant transactions that align with the industrial sector, such as the acquisition of Konecranes in 1994, which is known for its lifting equipment and services. They also acquired Renta Group Oy, a company that may have connections to equipment rental services, which could include earth moving equipment. Other acquisitions, like Dyno Nobel and DYWIDAG-Systems International, further demonstrate their engagement in the industrial landscape. By partnering with management teams, IK Partners aims to enhance growth and create long-term value for their portfolio companies, which may include those in the earth moving equipment industry.


7. Epiroc Construction Tools


Epiroc Construction Tools, founded in 2018 and based in Kalmar, Sweden, is a corporate investor specializing in mining and construction equipment. The company offers a diverse range of products, including drill rigs and rock excavation tools, and provides services such as maintenance and digital solutions aimed at enhancing productivity and safety. Epiroc has been actively expanding its presence in the earth moving equipment sector through strategic acquisitions. Notable transactions include the acquisition of Wain-Roy, a U.S. manufacturer of excavator attachments, which enhances Epiroc's footprint in the North American construction market. Additionally, the acquisition of Stanley Infrastructure for $760 million in December 2023 further strengthens their capabilities in the earth moving equipment domain. Other relevant acquisitions include RNP Mexico, a manufacturer of rock drills, and key assets from Schramm Australia, which contribute to their offerings in rock excavation and related services. These transactions highlight Epiroc's commitment to growth and innovation within the earth moving equipment industry.


8. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity and infrastructure investment firm founded in 1945. The firm specializes in providing capital and expertise to mid-market companies, focusing on sustainable growth. With a strong international presence, 3i Group has a diverse portfolio that includes significant investments in the equipment rental and services sector. Notably, they acquired Hyva Group in 2004, a company that provides hydraulic solutions, which are essential for various earth moving equipment. In 2011, 3i Group invested in Loxam Holding, a France-based rental equipment services company, to support its expansion in Europe, further emphasizing their commitment to the equipment sector. These transactions highlight 3i Group's strategic focus on companies that are integral to the earth moving equipment industry, making them a relevant investor in this space.


9. Equistone Partners Europe


Equistone Partners Europe is a private equity investment firm based in London, specializing in management buyouts and growth capital for mid-market companies across Europe. Founded in 1979, the firm partners with management teams to provide capital and strategic support, aiming for long-term growth and impressive returns for their investors. Notable transactions include the acquisition of Accès Industrie, which focuses on equipment rental and services, potentially including earth moving equipment. Additionally, they have invested in AFI-Uplift and BFT Mastclimbing, which, while not directly related to earth moving equipment, indicate their engagement in sectors that may overlap with construction and heavy machinery. Their operations span several key European markets, positioning them as a significant player in the private equity landscape.


10. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notable transactions include the acquisition of Dorner Holding Corporation, which operates in the industrial automation sector, and Cimbria, a company involved in agricultural machinery, both of which may relate to the earth moving equipment industry. Additionally, EQT's acquisition of Rolls-Royce Power Systems highlights their interest in power systems that could be relevant to heavy machinery applications. These transactions reflect EQT's capability and interest in sectors that intersect with earth moving equipment, making them a potential investor in this field.


11. Loxam Holding

  • Website: loxam.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1967
  • Headcount: 5001-10000
  • LinkedIn: 82653

Loxam Holding, founded in 1967 and based in Paris, Île-De-France, France, is a corporate investor and a leading equipment rental company in Europe. They specialize in providing machinery and tools for construction, industry, and services, catering to businesses that require reliable equipment to enhance productivity while managing costs. Loxam has made several strategic acquisitions to strengthen its position in the equipment rental market, including the acquisition of Ramirent in 2019 for approximately €970 million, which significantly expanded their footprint in the earth moving equipment sector. Other notable transactions include the acquisition of HUNE Group in 2017, which further solidified their presence in Spain, Portugal, Saudi Arabia, and Colombia, and the acquisition of JM Trykluft in 2021. These transactions highlight Loxam's commitment to becoming a leading pan-European equipment rental company, with a strong emphasis on earth moving equipment.


12. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm founded in 2011, based in London, England. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses across the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in Plantforce, a provider of heavy equipment rentals, with a GBP4.7 million growth capital investment aimed at supporting its expansion and acquisition plans. Additionally, BGF has provided funding to Johnsons Aggregates & Recycling, which is involved in the recycling of aggregates, further demonstrating their engagement in sectors related to earth moving equipment. These transactions highlight BGF's commitment to supporting businesses that are integral to the earth moving equipment industry.


13. LBO France

  • Website: lbofrance.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1985
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: lbo-france

LBO France is a private equity investment firm based in Paris, Île-De-France, founded in 1985. The firm specializes in private equity, real estate, and venture capital, focusing on creating value through strategic investments in mid-cap and small-cap companies. LBO France is committed to ESG principles, ensuring sustainable and responsible investment practices. Among its notable transactions, LBO France acquired Tractel Ltd, a company involved in lifting and handling equipment, which aligns with the earth moving equipment sector. Additionally, LBO France has invested in companies like SERAPID, which specializes in rigid chain technology, and Zato, a leader in the recycling sector, showcasing its diverse investment portfolio. Their clients include institutional investors and family offices seeking to optimize their investment portfolios, further emphasizing their strategic approach to investment.


14. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux, a private equity firm based in Amsterdam, specializes in acquiring and managing companies in transition. Founded in 2021, the firm focuses on providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has been involved in several significant transactions, including the acquisition of SABO Maschinenfabrik from John Deere, which strengthens their Goods & Services segment and is relevant to the earth moving equipment industry. Additionally, their acquisition of GDL Anläggning & Miljö AB, which generated substantial revenues, further demonstrates their active role in sectors that may intersect with earth moving equipment. Mutares' strategy of turnaround management and strategic investments positions them as a versatile investor capable of engaging with the earth moving equipment market.


15. Metso

  • Website: metso.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 2020
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: metso

Metso Corporation, founded in 2020 and based in Espoo, Uusimaa, Finland, is a corporate investor specializing in industrial machinery and technology for various sectors, including mining, aggregates, and oil and gas. With a workforce of over 10,000 employees, Metso aims to enhance operational efficiency and sustainability for its business customers through a range of products and lifecycle services. Notable transactions include the acquisition of McCloskey International, a key player in mobile crushing and screening solutions, and P.J. Jonsson & Söner, which also provides mobile crushing and screening solutions. Furthermore, Metso's acquisition of Ab A. Häggblom Oy, a company specializing in mining truck bodies and buckets, and Tedd Engineering, which focuses on automation for mobile equipment, highlights their strategic focus on enhancing their capabilities in the earth moving equipment sector. These acquisitions reflect Metso's commitment to expanding its portfolio in areas that are critical to earth moving operations.


16. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. The EIB's clientele includes both public and private organizations seeking funding for initiatives that promote growth and job creation. Notably, the EIB has been involved in significant transactions such as providing a €50M loan to Collé Rental & Sales, a Dutch company, aimed at further electrifying its rental machinery fleet for the construction industry. This investment highlights the EIB's commitment to supporting advancements in the earth moving equipment sector. Additionally, the EIB has engaged in various other financing activities across different industries, but its targeted support for construction-related projects positions it as a relevant player in the earth moving equipment investment landscape.


17. Mercia Asset Management PLC

  • Website: mercia.co.uk
  • Type: Venture Capital
  • Headquarters: Henley-In-Arden, England, United Kingdom (UK)
  • Founded year: 1982
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: mercia-asset-management

Mercia Asset Management PLC is an investment management firm based in Henley-In-Arden, England, specializing in venture capital, private equity, and debt financing to support the growth of UK businesses. Founded in 1982, Mercia focuses on ambitious startups and established companies, particularly in technology and innovation sectors. Among their notable transactions, they invested £4.5 million in Quick Reach, a national equipment hire business, enabling the company to expand its fleet of powered access equipment. They also provided debt financing to Eagle Platforms and Palamatic, the latter being a manufacturer of lifting and handling equipment, which aligns with the earth moving equipment industry. These transactions highlight Mercia's active role in supporting businesses that are directly related to earth moving and equipment hire, showcasing their relevance in this sector.


18. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm focuses on providing consulting services to businesses across various sectors, including technology and consumer products, with an emphasis on enhancing operational efficiency and sustainable growth through tailored investment strategies and digital transformation solutions. Notably, Altor acquired Dynapac on June 1, 2004, a company known for its road construction and earth moving equipment, which highlights their involvement in the earth moving equipment sector. Additionally, they have made several other acquisitions, such as Alo and RengasDuo Oy, showcasing their diverse investment portfolio while maintaining a significant presence in industries related to construction and equipment.


19. Indutrade AB

  • Website: indutrade.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: indutrade-ab

Indutrade AB is a corporate investor based in Stockholm, Sweden, founded in 1978. It is a technology and industrial group that develops and acquires companies characterized by high technical expertise. Indutrade operates through over 200 subsidiaries, providing a range of industrial and technological products to businesses in sectors such as infrastructure, medical technology, and energy. The company emphasizes decentralized leadership and long-term relationships with its customers and partners. Notably, Indutrade has made several acquisitions relevant to the earth moving equipment industry, including AVA Monitoring AB, which specializes in equipment for measuring ground vibration, and Sax Lift A/S, a manufacturer of scissor lift tables. These transactions highlight Indutrade's strategic interest in sectors that intersect with earth moving equipment, reinforcing its position as a relevant investor in this field.



Earth Moving Equipment Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
Crédit Mutuel EquityParis, Île-De-France, France51-20019882
Triton PartnersLuxembourg201-50019976
RSK GroupHelsby, England, United Kingdom (UK)10001+19893
CrhDublin, Dublin, Ireland10001+19706
IK PartnersLondon, England, United Kingdom (UK)201-500198914
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
3i Group plcLondon, England, United Kingdom (UK)201-50019453
Equistone Partners EuropeLondon, England, United Kingdom (UK)51-20019791
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Loxam HoldingParis, Île-De-France, France5001-1000019670
BgfLondon, England, United Kingdom (UK)51-200201153
LBO FranceParis, Île-De-France, France51-20019856
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
MetsoEspoo, Uusimaa, Finland10001+20202
European Investment Bank (EIB)Luxembourg1001-5000195899
Mercia Asset Management PLCHenley-In-Arden, England, United Kingdom (UK)51-200198241
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
Indutrade ABStockholm, Stockholm, Sweden5001-1000019781


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