RERMAG

United Rentals Acquires Elmen, Udelson

GREENWICH,Conn.- United Rentals has added two major players to its 550-plus location network, acquiring Elmen Enterprises, No. 14 on the RER 100, and Udelson Equipment, No. 30. United also completed its previously announced acquisition of Raytheon subsidiary Arayco, No. 38.

Elmen brings 47 locations to United, which acquired the Midwest general equipment giant from senior management and employees, who owned 51 percent of the company via an employee stock option plan. The sellers were represented by M&A specialist Brown Brothers Harriman, New York.

United is expected to use Elmen, which had $50 million in 1998 rental volume, as a platform to expand throughout the upper Midwest.

Udelson, a major Terex dealer, has locations in Houston and Fort Worth, Texas, Miami and Orlando, Fla., and Cleveland.

United also announced the acquisition of 10 other companies with 16 combined locations: Pilchuck Rentals, Marysville, Wash., and Vail Rentals, Vail, Colo. (both with three locations); Mango Equipment, Irving, Texas, and Karl's Rental Center, Milwaukee (both with two locations); A. Carhart Rentals, Santa Cruz, Calif.; Four Star Enterprises in Missouri; Calvet Tool Rental & Service in New York; Westside Equipment & Supply, Nashville, Tenn.; Lytle Rentals, Greenville, Texas; and Bob's Rental Center, Midland, Texas (all with one location).

United now has an annual run rate of more than $2 billion.

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