Sunbelt Rentals Makes Nine Acquisitions in Fiscal First Quarter and Four More in August
During Sunbelt Rentals’ fiscal first quarter ended July 31, 2023, the company made nine acquisitions for $315 million in cash. The acquisitions began on May 17 with Sunbelt U.S. acquiring the business and assets of Beattie Construction Services LLC, a specialty business operating in Michigan.
On May 24, Sunbelt U.S. acquired the business and assets of Jones & Hollands Inc., a general tool and construction business also operating in Michigan, known as Jones Equipment Rental.
Also on May 24, Sunbelt U.S. acquired the business and assets of West Coast Equipment LLC, a general tool and construction business operating in California, based in Corona, Calif. Craft Partners LLC served as financial advisor to West Coast Equipment.
On June 1, Sunbelt Canada acquired the entire share capital of Loue Froid Inc., a specialty business operating in Quebec, Ontario, Alberta and British Columbia. The company specializes in power generation and air conditioning rental.
On June 14, Sunbelt U.S. acquired the business and assets of American Covers Inc., a specialty business operating in Louisiana. American Covers, Inc. specializes in designing, manufacturing, and installing high-quality fabric shelters to suit various applications, including temporary warehouses, high-capacity lunch tents, shipping container covers, boat maintenance and storage, and more. Two days later Sunbelt U.S. acquired the business and assets of AGF Machinery, a general tool and construction rental business operating in Alabama.
On June 23, Sunbelt U.S. acquired the business and assets of Miele Central Equipment, a general tool business operating in Pennsylvania.
On June 28, Sunbelt U.S. acquired the business and assets of J&J Equipment Rentals, a general tool and equipment business operating in Virginia. Craft Partners LLC served as financial advisor to J&J.
And finishing up the quarter’s acquisitions, on July 31 Sunbelt U.S. acquired Runyon Equipment Rental Co., a general tool business operating in Indiana.
August acquisitions
Since the balance sheet date, in the month of August, Sunbelt made four more acquisitions for an additional $41 million. On Aug. 9, Sunbelt U.S. acquired the business and assets of A-One Rental and Homes A-One Inc., a general tool business operating in Wyoming.
On Aug. 25, Sunbelt U.S. acquired the business and assets of Caribbean Rentals & Sales Ltd. and International Rental Services. CRS is a general tool business operating in the Bahamas.
On Aug. 30, Sunbelt U.S. acquired the business and assets of Timp Rental Center, a general tool business operating in Utah. Also on Aug. 30, Sunbelt Canada acquired the business and assets of Modu-Loc Maritimes Fence Rentals, a specialty business operating in Nova Scotia and New Brunswick.
About the Author
Michael Roth
Editor
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.