Canadian Equipment Rental Fund, parent company of 4-Way Equipment Rentals based in Edmonton, Alberta, Canada, posted CDN $26.6 million in revenue for the full year 2011, a 78-percent increase compared with CDN $14.9 million in 2010. The majority of the increase came from the acquisition of Maplethorpe Contractors Ltd., a private integrated waste management company acquired by CERF in April of 2011. Since its acquisition, MCL has contributed sales revenues of CDN $8.1 million to CERF’s results.
Revenues for the year ended 2011, excluding MCL’s revenues, increased 24 percent year over year.
CERF posted equipment rental revenue of CDN $10.4 million, compared with $8.9 million in 2010, a 16.9-percent revenue hike.
“Our commitment in 2010 to retaining our employees, maintaining our fleet of rental equipment and maximizing growth opportunities proved to be a solid decision,” said CERF president Wayne Wadley. “When the Alberta economy rebounded in 2011, we were well positioned to take advantage of the increased business activity resulting from the recovery. THE MCL acquisition took us to another level, adding size and a whole new dynamic to our business platform.
“The future is bright with a renewed optimism. Many previously shelved construction projects have been revived. According to National Bank Financial, western Canada is expected to drive the economy and is positioned for stronger economic growth than their Eastern counterparts in 2012. Western Canadian markets are expected to benefit from global demand for resources and provide the strongest economic growth. High prices for agricultural products, mining and oil may make the outlook for our western cities such as Calgary, Edmonton, Saskatoon and Regina more promising than for cities in Eastern Canada.”
4-Way Equipment Rentals is No. 90 on the RER 100.