AS Storent Holding  bond issue

About Storent Holding

AS Storent Holding operates in the construction and industrial equipment rental sector across the Baltics, U.S. and Scandinavia managing 35 depots. As a top 3 rental company in the Baltics, Storent holds a strong market position across all three countries, with an estimated 11% market share in the region. 

In 2025, Storent completed its largest M&A transaction to date, using financing from the previous bond issue and U.S. bank funding to expand into the U.S. market through the acquisition of a 70% stake in Connect Rentals LLC.

The Group’s last twelve-month pro-forma revenue grew by 33% to EUR 63.0 million, driven by strong performance across all markets and the 2025 U.S. acquisition. Rental revenue rose by 34% to EUR 52.0 million. Pro-forma EBITDA increased by 70% to EUR 22.6 million, while net profit rose eighteenfold to EUR 5.2 million, mainly due to higher-margin U.S. operations.

The equity ratio decreased to 34% by Q3 2025 due to the Connect Rentals LLC acquisition but remains well above the covenant level, reflecting the Group’s solid financial position.

The proceeds from the bond issue will be directed towards refinancing of the existing bonds (ISIN LV0000850089 and LV0000850345), general corporate purposes and refinancing of other existing obligations.

Presentation

Term Sheet