United Rentals buys Ohio-based industrial rental company

By Murray Pollok22 July 2009

Michael Kneeland, chief executive officer of United Rentals

Michael Kneeland, chief executive officer of United Rentals

United Rentals has acquired Leasco Equipment Services, a Marietta, Ohio-based rental company that serves the industrial sector with a focus on power generation, petroleum, chemical, and pulp and paper companies.

The price of the acquisition was undisclosed. Leasco operates from a single location, and its fleet is oriented to its industrial customer base, including welding and cutting equipment, fork lifts, industrial cranes, compressors, aerial platforms and hoisting/rigging equipment.

Michael Kneeland, chief executive officer of United Rentals, said, "Leasco is a company with strong customer relationships built on 20 years of expertise in industrial rentals, and we are delighted that its senior management will be joining our team.

"This acquisition advances our strategy to expand our company's presence in the industrial segment, where our industry-leading geographic footprint, rental fleet size and scope, and commitment to exceptional customer service provide us with a competitive advantage."

Industrial business currently represents around 17% of United revenues. Mr Kneeland old IRN in May this year that he saw industrial rentals as a "significant opportunity" for the company.

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