Texada Software expands rental business with Houston acquisition
19 June 2012
Texada Software, the Canadian rental software company, has further expanded its US equipment rental business with the acquisition of Bane Machinery's Houston operation for approximately US$1.9 million.
Bane Machinery is a construction equipment sales, rental and used equipment business in Texas with locations in Fort Worth, Dallas and Tyler.
Texada first entered the equipment rental sector last year when it acquired Noble Rents, a company in Southern California with a rental fleet of more than 1100 aerial platforms, forklifts and light equipment units. Noble, through which Texada has made the Bane acquisition, is also the exclusive distributor of LiuGong machinery equipment in Southeast Texas.
"This transaction will mark our entry into a second major market in the US", said Willie Swisher, chief executive officer of Texada and Noble. "The business will operate as a full rental and distribution location serving southeast Texas from our leased facility located at 505 Rankin Road, Houston, Texas.
"This extension of our operational footprint will allow Noble to expand upon its strong relationship with the Terex Corporation and our exclusive distribution of LiuGong Construction Machinery"
Texada said in a statement that Noble was expected to retain all employees at Bane's Houston business, with the acquisition expected to close on or before 20 July, 2012.