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History

Adapteo was born in the demerger of Cramo on 30 June, 2019. Before the completion of the demerger, Adapteo was a part of Cramo Group.

Adapteo’s journey into a new, independent company

History

1950s–1970s

The roots of Cramo can be traced back to 1953, when the Finnish Association of Construction Engineers established Rakentajain Kone Oy in response to the need for construction machinery due to post-war reconstruction.

The name was changed to Rakentajain Konevuokraamo Oy in 1954. In the following decades, the company had grown to be one of the top rental companies in Finland.

Nordic Modular Group that Cramo acquired in 2018, traces its origins back to 1956, when the Anneberg factory was founded under the name Oresjös Fabriker AB.

1980s–1990s

In 1988, B shares in Rakentajain Konevuokraamo were quoted on the then Helsinki Stock Exchange’s OTC List.

In 1998, the shares were moved to the then Helsinki Stock Exchange’s official list, currently the official list of Nasdaq Helsinki.

2000s

In January 2006, Rakentajain Konevuokraamo acquired Cramo Holding BV and its subsidiaries, headquartered in Sweden.

In November 2006, the parent company’s name was changed from Rakentajain Konevuokraamo Oyj to Cramo Plc.

2010s

In 2014, Cramo adopted a new sub-brand, Cramo Adapteo, for its modular space business in order to better capitalise on the increasing modular space business and increase the prominence of its modular space business in real estate and in the public sector.

In 2014, Cramo acquired all the shares of the German modular space rental company C/S RaumCenter GmbH.

In 2015, Cramo further strengthened its position in the German modular space market by acquiring the modular space fleet of MDS Raumsysteme GmbH.

In June 2017, to strengthen its position in the growing Danish modular space market, Cramo acquired the assets of the modular space company Just Pavillon A/S.

In 2017, in line with its new strategy to aim towards a leading position in all Cramo markets, Cramo also divested its operations in Latvia and Kaliningrad as well as its Danish Equipment Rental operations in Denmark.

In 2017, the operations of Cramo were divided into two stand-alone business divisions, Equipment Rental and Modular Space (Cramo Adapteo). The same year, in line with its new strategy, Cramo decided to investigate and assess the potential separation of the Modular Space business division.

In 2018, the Modular Space business was strengthened by the acquisition of Nordic Modular Group Holding AB. The acquisition further strengthened Adapteo’s business model on the overall Nordic modular space market.

In December 2018, Cramo announced that Cramo’s Board of Directors decided to pursue towards separation of the Modular Space business through a partial demerger.

In 2019, Adapteo was born. The decision on the demerger of Cramo into two separate companies, Cramo Plc and Adapteo Plc, was made by the Extraordinary General Meeting of Cramo on 17 June 2019. Adapteo was born through the demerger of the modular space business of Cramo on 30 June 2019.

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Adapteo in brief

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