Sunbelt continues North American expansion
By Lindsey Anderson21 June 2021
Sunbelt Rentals announced it opened 29 greenfield locations and made five bolt-on acquisitions during fiscal 2021. The company also announced it opened an additional 12 greenfields and added four bolt-ons during its fourth quarter which ended on April 30.
“This has been a year of outperformance throughout all of our geographies and equally a year of positioning for future sustainable growth and success,” said Brendan Horgan, CEO, Ashtead Group, which is the parent company of Sunbelt Rentals.
“Our model has demonstrated for years the ability to thrive during good times, and we can now see clearly that during more challenging periods in the economic cycle, rental, and in particular, our unique approach between general tool specialty and clustered markets, is designed to deliver a reliable alternative to ownership to an ever-broadening lineup of end market.”
Acquisitions during the Q4 2021 included:
- On Feb. 3, 2021, Sunbelt US acquired the business and assets of DC Rentals — a general tool business in Connecticut.
- On March 26, 2021, Sunbelt US acquired the business and assets of Harford Rental Service — a general tool business in Maryland.
- On April 16, 2021, Sunbelt US acquired the business and assets of American Aerial Equipment — a general tool business in Massachusetts.
- On April 23, 2021, Sunbelt US acquired the business and assets of Ross Aerial Equipment — a general tool business in Arizona.
- On April 28, 2021, Sunbelt US acquired the business and assets of Tomcon Industries — a general tool business in New York.
As part of the Sunbelt’s growth strategy, the company plans to add 300 locations over the next three years with a target of having 1,234 total locations by the end of April 2024.