VAMO3 Grupo Vamos

Grupo Vamos, through Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. (VAMOS), is a publicly traded company focused on the rental of heavy vehicles and equipment, with common shares traded on B3 under the ticker VAMO3, in the Novo Mercado segment. The company was incorporated in 2015, initially as JSL Locação de Máquinas e Veículos Pesados Ltda., as part of Grupo JSL’s strategy to consolidate in a dedicated entity the rental of machinery, vehicles and heavy equipment, with or without drivers, in addition to fleet management and maintenance. In 2017, it underwent a significant corporate reorganization, becoming a corporation (sociedade por ações), adopting its current name and merging companies related to truck and machinery dealerships. From 2018 onward, the company focused its activities on its core rental business, after a spin-off that separated financial services from the conglomerate. In 2019, it obtained registration as a publicly held company and, in 2021, carried out its initial public offering, starting the trading of VAMO3 on B3. Over the following years, it built a track record of acquisitions and mergers of companies related to agricultural machinery, pre-owned vehicles, customization of heavy vehicles, and forklift rental, expanding operating scale and its solutions portfolio.

The main activities of Grupo Vamos are centered on the long-term rental of trucks, machinery and equipment, without operator, with or without maintenance services, offering contracts predominantly with terms of around five years or more. On December 31, 2024, the company reported a fleet of 51,604 assets, composed of 40,464 trucks and implements and 11,140 machines and equipment, serving around 1,614 clients in various sectors of the economy. The business model is structured to control the entire investment cycle of the asset: from purchase from manufacturers, through rental with added maintenance and fleet management services, to resale through its network of pre-owned stores. The company positions itself as one of the largest buyers of trucks in the country, which helps it negotiate differentiated price and delivery terms with suppliers, boosting its competitiveness in structuring fleet outsourcing contracts.

Vamos’s operations are organized into operating segments of rental of trucks, machinery and equipment, and industrialization and customization of trucks. The rental segment is the company’s economic core, accounting for more than 90% of consolidated net revenue in 2024 and virtually all operating profit. In this segment, the company offers fleet outsourcing contracts with preventive and corrective maintenance management, ensuring the availability of the rented assets. The industrialization and customization segment, developed mainly through acquisitions such as BMB Brasil and BMB México and, later, Truckvan, delivers tailor-made solutions for heavy vehicles, adapting trucks and buses to the specific needs of corporate clients and manufacturers. Complementarily, the company operates a network of pre-owned stores through Vamos Seminovos, responsible for selling decommissioned assets at the end of contracts, consolidating value capture over the entire life cycle of the assets.

Grupo Vamos’s product and service portfolio covers the rental of trucks, buses, road implements, agricultural machinery, yellow line equipment, forklifts, pallet jacks and tow tractors, among others. In addition to rental, the company offers maintenance, fleet management and after-sales services, supported by a network of more than 6,000 authorized repair shops across the country. This infrastructure is complemented by proprietary digital systems, such as the Customer Portal, which allows monitoring of the rented fleet, mileage, damage costs and service scheduling. In 2024, the company also launched the Sempre Novo product, aimed at renting used assets in good condition, focusing on clients that do not require brand-new vehicles. This solution is intended to increase fleet utilization, optimize the use of already invested capital and extend the economic cycle of trucks and equipment with intermediate age.

Vamos’s target markets are diversified, with significant presence in agribusiness, industry, energy, logistics, food and beverages, transportation and services. The client base is fragmented, with no material concentration, as no individual client accounted for more than 10% of net revenue in 2024. The company holds a prominent position in the Brazilian heavy vehicle rental market: according to ABLA data, the truck fleet under rental in the country totaled 59.7 thousand heavy vehicles at the end of 2024, while Vamos’s comparable fleet represented approximately 40.5 thousand assets, indicating a relevant share in the segment. In addition, the company has a significant share of truck registrations by rental companies, reinforcing the importance of its purchasing scale with manufacturers. In the pre-owned market, it operates predominantly in vehicles with four to eight years of use, especially five and six years, a niche characterized by high liquidity.

Geographically, Grupo Vamos concentrates its operations in Brazil, with nationwide service capacity supported by a sales force, repair shop network and pre-owned stores distributed across different states. In 2024, the company had 18 pre-owned stores in nine states and more than 70 partner sales points, which operate under a consignment model to sell decommissioned assets. Expansion in agribusiness was reinforced through acquisitions of agricultural machinery dealerships, such as Monarca, a network linked to the Valtra brand in Mato Grosso, and through its appointment as a Fendt dealer in the Sorriso (MT) region, in addition to the opening of a large Fendt dealership in 2022, a milestone in the strategy to expand its presence in the agricultural segment. The acquisition of HM Empilhadeiras, headquartered in Campinas (SP) with units in other states, expanded its presence in the forklift and material handling equipment rental segment, strengthening its footprint in key industrial and logistics regions.

From a regulatory standpoint, Vamos’s activities are typically private and do not depend on sector-specific public concessions, but are subject to licenses and authorizations for the operation of stores and facilities, such as municipal permits, fire department inspection certificates, building safety approvals and environmental licenses, as required locally. The company is also registered with the National Registry of Road Cargo Carriers (RNTR-C), in the Cargo Transport Company category, which qualifies it to perform road cargo transportation within the parameters of Law No. 11,442/2007. Its operations are also subject to oversight by agencies such as the Federal Highway Police and to national traffic regulations, in addition to applicable privacy and data protection laws, in line with the evolution of rules on the use of personal data in Brazil.

Corporate governance and environmental and social risk management aspects appear in the form of procedures for obtaining and renewing licenses, compliance control at its units and observance of operational safety standards. As a company listed on B3’s Novo Mercado, Grupo Vamos adopts a share capital structure based on common shares, with transparency and accountability practices consistent with this listing segment. The company also seeks synergies with Grupo Simpar, its controlling shareholder, especially in negotiations with suppliers, structuring of operations and sharing of experience in the Brazilian logistics sector, without prejudice to the dedicated management of the truck, machinery and equipment rental business. The combination of long-term contracts, a diversified client portfolio and structured resale capacity via the pre-owned network confers on its business model characteristics of recurring revenue generation and greater cash flow predictability for the company.