Volvo Rents acquires Contractors Equipment Rental in Florida
By Murray Pollok27 July 2011
Volvo Rents has acquired Contractors Equipment Rental (CER), a single depot rental company located in Orlando, Florida.
Volvo Rents said the acquisition would give it greater access to the Orlando construction market where spending is "projected to total nearly $30 billion between 2012 and 2016".
The acquisition is part of a new strategy at Volvo Rents in North America to expand its operations by acquiring rental businesses. Previously the company was creating a network of independent Volvo Rents franchises, some of which may be acquired as part of the new strategy.
Gary Tripp, owner of Contractors Equipment Rental, said; "Volvo Rents is embarking on a significant expansion, and we looking forward to facilitating their growth."
He said CER has had a relationship with Volvo Rents since 2002; "The company's culture of taking care of our employees and customers made becoming part of Volvo Rents an attractive decision for my family and my employees," said Mr Tripp.
Mike Crouch, Volvo Rents' vice president, business development, said Mr Tripp and his team would play "a significant role in the expansion of Volvo Rents in the state of Florida."
Along with the new strategy, Volvo Rents is now an independent subsidiary of Volvo, and no longer a part of the Volvo Construction Equipment business.