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Financial injection for AED Rent

AED Rent has teamed up with ING Corporate Investments and Phifin to help pursue its ambitious growth plans, writes Marc Maes.

AED Rent, the European dry hire and distribution house, has attracted two new partners to help pursue the company’s ambitious growth plans. ING Corporate Investments has acquired 27% of the business while Phifin now holds 12.5%. They join AED’s founder/CEO Glenn Roggeman (pictured) who holds 20.6%, AED management’s 7.1% , and PE Group, an independent group specialised in private equity investments and corporate finance advisory services, which owns 32.8% of the voting shares. With some 130 employees in five countries, AED group posted a turnover of €28 million in 2010, with an operating cash flow of €14.3 million. “AED Rent is a remarkable success story enabled by a clear vision, growth strategy and business model increasingly establishing itself as a market decisive trendsetter in the rapidly changing European audiovisual industry,” commented Tom Bousmans, director at ING Corporate Investments, who was, together with Jacques Martin Philippson, appointed director of AED Rent. “During the past 25 years AED Rent has experienced continuous growth and we are determined to continue this in the years ahead. We are therefore very pleased to welcome ING and Phifin as partners in order to assist us in achieving our growth ambitions with their investment, expertise and international network,” Roggeman said. AED Rent currently has subsidiaries in the Netherlands, the UK, France and Germany – the growth plan includes expansion in other European territories.