Japanese multinational company buys a stake in Equippo

Equippo operates an online market place for the efficient and secure exchange of used construction machinery. The company combines technology and business know-how to provide customers with functions that were previously not possible with conventional transactions such as credible and transparent reports by independent inspectors, money-back guarantees and complex logistics made easy, with worldwide shipping included.

The solution addressed some of the constraints faced in the construction machinery market such as complex processes, lack of transparency and quality since the trade was almost exclusively conducted through brokers or auctions. Technology breakthrough is now fundamentally changing the industry, which is estimated to have a global market volume of USD 100 billion and European market share is USD 30 billion.

The Zug-based Equippo, with offices in Switzerland, Germany, Belgium and France, is currently operative in 55 countries. To further scale and internationalize its market place, Equippo has obtained a large investment from the Japanese Sumitomo Corporation (“SC”), a leading Fortune 500 global trading and business investment company with 132 locations in 66 countries and regions. The entire SC Group consists of more than 900 companies which all together bring an annual turnover of EUR 44.7 billion and an annual profit of EUR 2.6 billion in 2019.

By investing in Equippo, through the purchase of stake, SC is seeking to utilize Equippo’s platforms to focus on second-hand markets that have a close affinity to its existing businesses, to respond more sensitively to new and diverse needs, and to further expand and enhance the services for customers. By backing Equippo’s business expansion and working to resolve the issues facing the construction machinery industry, Sumitomo Corporation will also contribute to improved social infrastructure and economic development.

(Press release)