Sunbelt and A-Plant Acquire 10 Companies Since the Beginning of Fiscal Q3
In addition to strong organic growth, Sunbelt Rentals and sister company A-Plant in the United Kingdom have continued to grow via acquisitions, having made 10 purchases since the beginning of the fiscal third quarter.
On Nov 1, 2018, A-Plant acquired the entire share capital of Precision Geomatics Ltd. for £4 million in cash. Precision Geomatics is a survey equipment hire business.
On Nov. 1, Sunbelt U.S. acquired the business and assets of Apex Pump & Equipment LLC for a cash consideration of $103 million with contingent consideration of up to $15 million, payable over the next three years, depending on EBITDA meeting or exceeding certain thresholds. Apex is a pump business in Texas.
On Nov. 1, Sunbelt Canada acquired the business and assets of Full Impact Enterprises, trading as GWG Rentals, for a cash consideration of CDN $6 million. GWG Rentals is a general equipment rental business in the province of British Columbia. GWG has six branches in British Columbia and Alberta.
On Nov. 8, Sunbelt U.S. acquired the business and assets of Underground Safety Equipment LLC for $33 million in cash with contingent consideration of up to $6 million payable over the next two years, depending on EBITDA meeting or exceeding certain thresholds. USE is a trench shoring business operating in Colorado, Tennessee, Texas and Utah.
On Nov. 30, A-Plant acquired the entire share capital of Hoist It Ltd. for a cash consideration of £4 million. Including acquired debt, the total cash consideration was £5 million. Hoist It is a specialist provider of lifting solutions.
On Jan. 11, 2019, Sunbelt U.S. acquired the business and assets of Hull Brothers Rental for $12 million in cash. Hull Brothers is a general equipment rental business in Michigan.
On Jan. 28, 2019, Sunbelt U.S. acquired the business and assets of Koslowski Rentals Inc., trading as A Rental Center, for $1 million in cash. A Rental Center is a general equipment rental business in California.
The company has completed three more acquisitions since the close of the fiscal third quarter Jan. 31. On Feb. 8, Sunbelt U.S. acquired the business and assets of Temp Air Inc. for $119 million in cash. Temp-Air is a climate control business operating in 13 markets in the U.S.
On Feb. 8, Sunbelt acquired the business and assets of Baystate Equipment & Rental Sales Co. Inc. for a cash consideration of $11 million. Baystate is a general equipment business in Massachusetts. Dan Conway, managing partner of Craft Partners, Encino, Calif., represented Baystate Equipment in the transaction.
And on Feb. 15, Sunbelt acquired the business and assets of Bat’s Inc., trading as Harper Car & Truck Rental of Hawaii, for a cash consideration of $4 million. Harper will operate as a general equipment business in Hawaii.
For a look at Sunbelt Rentals' performance in its fiscal third quarter and the first nine months of the fiscal year, go to: https://rermag.com/headline-news/rental-revenue-jumps-266-percent-third-quarter-sunbelt-rentals-us
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.