Friday Roundup: Ashtead’s US listing progress | AFC Energy hydrogen launch | Tesya’s rebrand

Photo: Cooper Equipment Rentals

The move will see Italian business CGTE, Spanish business Finanzauto Rental and Portuguese business Emerent become know as Alayan.

Vincent Albasini, who joined the company from Avesco Rent last year, will lead Alayan as CEO.

He told IRN that the move will allow the company to consolidate its rental activities and strengthen brand recognition across the board.

Change was also in the air in Canada, where Cooper Equipment Rentals announced the acquisitions of Rent All Centre (RAC), Skyhigh Platforms, and Big Stick Rentals.

Founded in 1973, RAC and Skyhigh Platforms provide general rental and aerial equipment.

The companies operate from locations in Cobourg, Port Hope, Peterborough (two branches), Belleville, Trenton and Whitby.

Big Stick Rentals, founded in 2013, operates from Grande Prairie, Alberta. The company provides a range of rental equipment for contractors in the region.

With the deals, the company increases its presence along Ontario’s Highway 401 corridor, complementing its existing network in Toronto, Oshawa, Kingston and Ottawa.

In other acquisition news, Altrad Generation, the UK scaffolding and industrial services division of Altrad Group, acquired the mobile fencing operations of Heras in the UK.

Heras Mobile Fencing sells and rents temporary fencing used for security in construction, events and industrial sites. The deal does not include the permanent fencing and security products that will continue to run by Heras.

Hydrogen use in equipment rental

In the UK, developer of hydrogen fuel cell generators AFC Energy launched its 2nd Generation H-Power S+ 200kW Generator, a unit that builds upon the 1st Generation prototype developed alongside ABB as part of a partnership announced in 2020.

Photo: AFC Energy

Designed for construction and off-grid power applications, the upgraded H-Power S+ 200kW genset is now 34% smaller in size, 28% lighter in weight and is said to be 65% lower in cost. 

According to AFC Energy, the upgrades make it “more portable and cost-effective” while also removing barriers to widespread hydrogen adoption.

On the topic of hydrogen, KHL’s Lucy Barnard highlighted how the drive for cleaner energy is pushing OEMs and rental companies toward hydrogen-based alternatives, paving the way for hydrogen-powered solutions in construction site power generation.

In that piece, which can be found here, we find out how the likes of XCMG, GeoPura, EODev, Yanmar Energy Systems and AFC Energy are bringing hydrogen fuel cell power to construction sites.

While challenges in hydrogen adoption are clear to see, the article seems to reveal that interest in hydrogen-powered solutions is growing.

Changes at the top

In December we revealed that Ashtead, the owner of Sunbelt Rentals, seek shareholder approval with the goal of completing the US listing within 12 to 18 months.

In an update this week, the company said it hopes to proceed with a listing on the New York stock exchange under a new company called Sunbelt Rentals Holdings Inc.

The listing, which could take effect in the first quarter of 2026 if approved by shareholders, would see the company retain a secondary stock market listing in London.

There will now be a formal vote on the proposal by Ashtead shareholders at an extraordinary general meeting (EGM), with approval requiring 75% in value of the shares voted.

Elsewhere, Trackunit’s previous owner Goldman Sachs Alternatives has again invested in the telematics and data specialist and has become the majority owner. The level of investment has not been made public.

IrisX will provide more insights based on machine telematics as well as other data sources. (Image: Trackunit)

Previous majority stakeholder Hg retains a shareholding in the business and it described the transaction as a “partial exit”.

Rounding up news from this week, the distributor agreement between lighting tower manufacturer Trime and UK-based company MHM Group came to an end.

The agreement, which started eight years ago, saw MHM supply power generation equipment, lighting towers, fuel tanks, welders and related spare parts on behalf of Trime Group.

Now the agreement has ended, Trime said it will take direct control of these activities from February 1.

An email sent out by Trime said it would allow MHM to focus on its new business model of direct rental of renewable products