As long expected, Fluor Corp. has sold its North American equipment rental and fleet services business, AMECO, to One Equity Partners for $73 million.
This transaction is another significant step in completing the AMECO divestiture announced by Fluor in September 2019. Fluor previously divested its AMECO Caribbean business in Jamaica in August 2020 and is actively marketing its remaining AMECO South America and ServiTrade Mozambique operations.
Fluor said it looks forward to continuing to work together with AMECO in the U.S. and Canada.
AMECO reported $88.7 million in rental revenue in 2020 and $265 million in total revenue.
Fluor used BofA Securities as its financial advisor for this transaction.
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.
