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.
