ASHEVILLE, N.C. — Volvo Rents launched its new acquisition strategy by acquiring Sampson Equipment Co., a three-location rental company based in the Salt Lake City area, with branches in Murray, Ogden and Draper, Utah, and Slidell, La.-based Tuff Rentals.
The Sampson acquisition was the first purchase in a new strategy to manage and grow a network of company-owned stores as well as continuing its franchise network.
“Becoming a part of Volvo Rents was an attractive decision for my family and my employees,” said Lance Sampson, owner of Sampson Equipment Co. “Volvo Rents provides us with the resources to expand, and allows us to align our culture with a trustworthy brand that is known for their commitment to their employees and their customers.”
“Sampson Equipment's culture of local decision-making has enabled the Sampson family to assemble an excellent team that is fully committed to customer care,” said Mike Crouch, vice president, business development. “The Sampsons will serve a significant role in the expansion of Volvo Rents in the state of Utah.”
Volvo Rents then made its second major acquisition within a week with the purchase of Tuff Equipment Rentals, a three-location rental company based in Slidell, La., with additional stores in Hammond and Covington, La.
“Since 1983 when we opened our first equipment rental store, taking care of our customers is what Tuff Equipment Rentals has been about,” said Tuff owner Ralph Kastner Sr. “Volvo's culture of customer care made becoming part of Volvo Rents an attractive decision for my family and my employees. Volvo Rents provides us with the resources to expand, and allows us to align our culture with a trustworthy brand that is known for their commitment to their employees and their customers.”
Kastner, who recently told RER his company came close to making the most recent RER 100, founded Kastner Equipment Rentals in 1983, which he sold to RSC Rentals in 1997. He founded Tuff some years later. Kastner's son, Ralph Kastner Jr., will continue with Volvo Rents.
“Tuff Equipment's culture of customer care and local decision-making has enabled the Kastner family to assemble an excellent team that is fully committed to customer care,” said Mike Crouch, vice president of business development for Volvo Rents. “Ralph Kastner Jr. and team will serve a significant role in the expansion of Volvo Rents in the state of Louisiana.
Gary Stansberry of Hageman, Stansberry & Associates represented Tuff in the transaction.
Volvo Rents, based in Asheville, N.C., is No. 17 on the RER 100.
