Friday Roundup: Acquisitions abound

Consolidation among rental companies is a major global trend, with evidence to be found among the many reports from companies adding branches to their footprints in markets around the world. During the week that was July 11-17, 2024, the news centered on this theme predominantly.

In the US, H&E Rentals (formerly H&E Equipment Services) has opened a greenfield branch in Idaho Falls, its third general rental equipment location in the state of Idaho.

Located in the city of Ammon, the depot specializes in the rental of a number of construction and general industrial equipment, including aerial lifts, earthmoving equipment, telescopic forklifts and compaction equipment.

Branch manager Josh Criddle, said, “Our Idaho Falls branch has filled in those gaps between our other H&E facilities in the region, and we can now work in tandem to take care of our customers across several states.”

In Europe, rental network PartnerLift has addeed SIM-Tec to its cooperative of rental companies, expanding its network in Rhineland-Palatinate, Germany.

Rental network PartnerLift has addeed SIM-Tec to its cooperative of rental companies.

“We are pleased that we were able to join the PartnerLift community and see many advantages for us in this,” said Michael Lilienfeld, SIM-Tec manager. “Networking and exchange within the industry in particular is a very important component of membership.”

SIM-Tec has more than 100 machines in its rental fleet. From small scissors and articulated telescopic platforms to truck ramps, front loaders and rotating telehandlers, SIM-Tec’s fleet covers a wide spectrum of equipment.

In Italy, Venpa, the parent company of GV3, has grown its presence with the acquisition of lifting specialist LocaTop.

Headquartered in Dolo, Venice, With a fleet of over 4,000 units, including aerial platforms, earthmoving machinery, telehandlers and truck cranes, Venpa has added Medicina, Bologna-based LocaTop to the group, with its 1,600 units.

Focusing on lifting equipment such as platforms and truck cranes, LocaTop was founded in 2004 by Carlo Cazzola. Today the company has 16 branches located in Emilia-Romagna and Lombardy and more than 100 employees. In 2023 the company’s turnover was €25 million, while EBITDA was €10 million.

Finally, when it comes to consolidation, Storent Group is to open a new depot in Lithuania as part of a strategic plan to grow its share of the market in the Baltic region.

The company said the new depot, based in the city of Vilnius, will hold a variety of equipment and will serve the Northern territory of the city, with other depots supporting the rest of the region.

Storent Group is to open a new depot in Lithuania as part of a strategic plan to grow its share of the market in the Baltic region.

It is the seventh depot the company has opened in Lithuania, which is the company’s third largest market with annual revenues of around €10 million.

In other news this week, Sunbelt Rentals UK and Ireland has signed a multi-year preferred supplier agreement with Mitie, one of the UK’s biggest facilities management companies.

Effective from May 1, 2024, the agreement makes Sunbelt the preferred rental supplier for Mitie across all areas of its activities. Sunbelt said the deal strengthened its position in the industry and illustrated its commitment to the facilities management sector.

“This agreement is a fantastic way to mark the beginning of Sunbelt 4.0, our new five-year growth strategy, as we focus on prioritizing, elevating, and enhancing everything we do to support our customers.”