United Rentals’ Canadian subsidiary, United Rentals of Canada, has agreed a deal to acquire WesternOne Rentals & Sales for a cash fee of US$91.8 million (CA$120 million).
WesternOne is a regional equipment rental provider of aerial lifts and heat solutions in Western Canada, with additional offerings of temporary power, general construction equipment and fuel delivery. The company operates 12 locations and employs approximately 330 people.
The deal is expected to close before the end of 2018, subject to approval by the shareholders of WesternOne, along with other customary conditions. United said the deal would not have a material impact on the revenues or earnings of the company.
Michael Kneeland, CEO of United Rentals, said, “The acquisition of WesternOne Rentals & Sales will expand both our general rental and specialty offerings in key Canadian provinces. WesternOne’s aerial and portable heat rentals dovetail with our own range for construction and industrial customers.
“We’ll also gain scale and diversification in two areas: the sports and entertainment vertical, with a focus on film and television production, and a comprehensive propane and diesel fuel service.”
Kneeland continued, “In addition, the combination directly aligns with our vision for customer service. We particularly like the fact that WesternOne’s culture focuses on people and innovation. In addition to cross-selling our equipment and services, we’ll be able to give our combined customer base the benefit of new expertise and a larger pool of shared technology. We look forward towelcoming WesternOne employees to United Rentals.”