North American Access Business News – Page 10
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ArticleUnited Rentals completes RSC acquisition
United Rentals has completed its acquisition of RSC Holdings Inc. in a cash-and-stock transaction valued at $18 per share for a total enterprise value of $4.2 billion including $2.3 billion in debt, United Rentals announced.
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Volvo Rents buys Nelico in Wyoming
Volvo Rents continued its North American acquisition spree last week with the acquisition of Nelico Equipment Service and Supplies, a three-branch rental business with locations in Mills, Rock Springs and Casper, Wyoming.
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Shareholders approve United Rentals' acquisition of RSC
Shareholders at both United Rentals Inc. and RSC Holdings Inc. have voted in favor of United's forthcoming acquisition of RSC.
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Court approves Ahern Rentals' DIP financing
The US Bankruptcy Court in Nevada has approved Debtor-in-Possession financing for Ahern Rentals, allowing the rental company to continue operating without any interruptions.
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Ahern Rentals files Chapter 11
One of North America's largest independent rental companies, Las Vegas-based Ahern Rentals, has filed for Chapter 11 bankruptcy in order to restructure around $500 million in debt.
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Rental software company Insphire opens US office
UK-based rental software company Insphire has established a permanent US sales office, located in Houston, Texas.
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Highlift Equipment acquires Valco Equipment assets
Highlift Equipment Ltd, a full service equipment distributor operating in Cincinnati since 1968 has acquired the assets of Valco Equipment Inc. of Canton, Ohio. Valco Equipment Inc. has been a distributor of telehandlers, scissor lifts and boom lifts for more than 24 years.
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Profits up 83% at Ashtead driven by Sunbelt performance
Ashtead Group’s operating profits jumped by 83% to £63.4 million for the three months to 31 October driven by an almost doubling of profits at Sunbelt Rentals in the US.
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Glifberg to be inducted into ARA's Rental Hall of Fame
Former Cramo chief executive officer Gunnar Glifberg will be one of the two new inductees into the American Rental Association’s Rental Hall of Fame.
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Platinum Equity acquires NESCO
Platinum Equity has acquired NESCO Sales and Rentals. Platinum is the owner of Maxim Crane Works and acquired NESCO from an investor group led by Hammond, Kennedy, Whitney Company. NESCO founder and chief executive officer Rob Troxel will retain an ownership stake in the business going forward. Terms ...
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Billionaire Icahn interested in Navistar and Oshkosh merger
According to multiple reports, billionaire investor Carl Icahn is interested in Navistar International Corp. merging with Oshkosh Corp., though nothing formal has been announced.
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Terex to acquire stake in Brazilian utility manufacturer
Terex Corp is to acquire a controlling interest in Ritz do Brazil S.A. Ritz produces a wide range of electricity and utility equipment - including insulated aerial platforms - for the construction and maintenance of power lines up to 800 kV.
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ARA publishes standards for rental metrics
The American Rental Association (ARA) has published a white paper outlining industry standards for measuring and reporting the performance of equipment rental companies.
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IPAF rental market report predicts AWP uptick for 2011, 2012
A 5 percent recovery in the aerial work platform market is expected for 2011 with even stronger growth in 2012, the International Powered Access Federation (IPAF) has reported in its IPAF US Powered Access Rental Report 2011.
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American telehandler rental fleets 10% smaller than two years ago
ALH's annual listing of North America's largest telehandler-owning rental fleets shows stability.
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Instant UpRight enjoy upturn and plan growth
Ireland based scaffolding system manufacturer Instant UpRight has reported that first quarter sales in 2011 are 47% higher than the same period in 2010. Managing director John Nevin said, "We continue to see strong demand into Q2 and have positive news in dealer development and growth in our boiler, aviation ...
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Terex AWP sales increase 66.3 percent in fourth quarter
Terex Corp.'s AWP division reported increased net sales for the fourth quarter of 2010 by $135.8 million, or 66.3 percent, to $340.6 million versus the fourth quarter of 2009.
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ARA survey finds growing rental confidence
The latest quarterly economic survey by the American Rental Association (ARA) reveals that more than 80% of North American rental managers and owners expect 2011 to be a much better year than 2010.
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Max Equipment Rental emerges from Chapter 11
US rental company Max Equipment Rental has received court approval for its Chapter 11 reorganisation plan. The California-based company entered Chapter 11 bankruptcy protection in December 2009.
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Horgan promoted to Sunbelt CEO as Joe Phelan leaves
Ashtead Group has appointed Brendan Horgan as chief executive officer of Sunbelt Rentals. Mr Horgan, who was previously the company’s chief operating officer, replaces Joe Phelan who left Ashtead Group on 25 January.
