10 recent equipment rental acquisitions
13 September 2022
2022 has already seen an increase in the frequency and scale of rental mergers and acquisitions. Here are some of the most recent deals - all announced since the start of August - as well as a few that haven’t been completed.
Kiloutou enters Portuguese rental market
French rental firm Kiloutou expanded its presence in Europe earlier this month with acquisitions in Portugal and Denmark respectively.
The company acquired Holbæk Lift through its Danish subsidiary GSV as well as major rental company Grupo Vendap, which represents Kiloutou’s first entry into the Portuguese rental market.
Vendap is a famous name in Portugal’s rental sector and one of the market leaders in the country.
Toi Toi finalising Sebach acquisition
Although not finalised, Toi Toi & Dixi Group GmbH is to acquire Sebach from its owner, Ylda Group S.p.A.
Sebach is a major renter of portable toilets in Italy and France. The deal, which includes the sale of portable toilet manufacturer Armal, is expected to be completed later this year.
The acquisition of Italy-based Sebach, a competitor of the toilet rental company, is expected to increase annual revenues by up to 20%.
Selwood gets investment fund owner
UK pump rental and manufacturing company Selwood is now under 83% ownership of Arcus Infrastructure Partners, a London-based fund manager. Included in the deal is Selwood’s sister company, Siltbuster.
The acquisition means that the company - which is the largest pump rental business in the UK - is no longer under the control of the Bright family, which has been majority owner since 1976.
Cooper announces Canada expansion
In July, Cooper Equipment Rentals expanded its presence in Canada with the purchase of One Stop Rentals & Sales.
The company says the acquisition of One Stop, which will be part of Cooper’s Southern Alberta Region, will help towards “establishing itself as the only Canadian-owned, nationally positioned, rental company.”
To help ensure the acquisition is successful in the coming months, One Stop shareholder Todd Maxwell will remain as Branch Manager.
Northern France acquisition for Loxam
France-based rental company Loxam strengthened its coverage of northern France with the purchase of sister rental companies Sofranel and Société Cominoise de Location (SCL).
Based in Lille, the companies specialise in public works equipment and also operate in the construction sector, with which they provide a range of machinery to, including excavators, loaders and screeners.
Outside of the expansion in France, 2022 has also seen Loxam complete several acquisitions in Spain.
National Trench Safety (NTS) acquires in New York state
National Trench Safety, the US trench shoring rental company has acquired the assets and operations of New York state headquartered Vellano Shoring and Supply. The terms of the purchase have not been disclosed.
NTS, which has 64 locations in the US and two in the UK, and has been consolidating the trench shoring sector in the US.
Vellano supplies slide rail, aluminium shoring, hydraulic shoring, trend boxes, manhold shields, road plates, gas monitors and safety and power equipment.
González Trading rebrands following two acquisitions
Following the acquisition of rental companies in Panama and Costa Rica, rental and sales firm González Trading has rebranded as Teselta and announced its intention to increase its international presence.
The Puerto Rican company acquired Panama-based PowerGen and Costa Rican rental firm Renta Unida earlier this month.
José Manuel Baeza, Teselta’s President and CEO, said the expansion gives the company the opportunity to become a “multi-Latin business” as it attempts to “become a leader in the sector.”
Kennards adds to New Zealand network
Kennards Hire has added to its network of branches in New Zealand following the acquisition of general equipment rental company Rangiora Hire.
The purchase of Canterbury-based Rangiora includes the 3,500m2 Rangiora site, which will now operate under the name of Kennards Hire Rangiora.
The deal ensures that much of the existing Rangiora staff will remain in the company, while the previous owners, Wayne and Sandy Hood, have both decided to retire.
A ‘not quite yet’ acquisition
The owner of Power rental company APR Energy is considering a $3.6 billion buyout offer from private equity firms, a move that would see it go into private ownership.
The offer to APR Energy owner Atlas Corp was made by consortium group Poseidon Acquisition Corp, which is made up of affiliates from Fairfax Financial Holding, members of the Washington Family, and David Sokol, the current Chairman of Atlas.
Atlas have set up a committee of independent directors to evaluate the proposal.
And one that didn’t happen...
Vp PLC is no longer for sale after the UK rental company announced its board had rejected a number of offers since starting a formal sale process in April.
The company said none of the offers it received were in the interests of shareholders and its controlling owner Ackers P Investment Co Ltd would not proceed with a sale.
Jeremy Pilkington, Chairman of Vp, said that following the closure of the sales process, Ackers P Investment has “confirmed its ongoing commitment to Vp.”