Friday Roundup: Ashtead’s US listing switch | rental acquisitions | Bauma launches
12 December 2024
There were plenty of examples of equipment rental companies pivoting for future growth in the week that was December 5 to December 11.
Photo: Mollo Noleggio
For example, Ashtead Group said that a stock listing in the US “is in the best interests of the business and its stakeholders” and announced that it will seek shareholder approval with the goal of completing the US listing within 12 to 18 months. It said it would retain a UK listing in the international companies segment.
As part of the move, which has been widely anticipated, the group will rebrand as Sunbelt Rentals.
Among the benefits, it said, was that it would align listing locations with the majority of its business activity, leadership team and employees, increase its profile with the rebranding to Sunbelt Rentals and increase exposure to US investors.
The news came just days after Sunbelt in the UK announced the acquisition of production and equipment business JLL Group.
Italy-based Mollo Noleggio also revealed growth plans this week, with the company announcing the acquisition of the Sovecar Group’s rental division. The company said the deal for Trento-headquartered Sovecar, which also operates two branches in Isera (Rovereto) and Arco, marks “an important moment of growth” for the company.
As well as seeing Mollo enter the Trentino region for the first time, the company will also expand its coverage in Italy to 66 depots and over 600 employees following the completion of the deal.
In Australia, Coates signed a long-term agreement with UGL for the liquefied natural gas (LNG) facilities on Curtis Island off the coast of Gladstone in central Queensland, Australia.
Coates, which has worked with UGL for more than 20 years, will supply ad hoc and long-term hire equipment and tool stores as required by UGL in the Gladstone region.
Equipment rental fleet gains
While some companies were focusing on future growth opportunities, others were reaping the benefits of previous deals.
Take for example Boels, which confirmed that it has merged its own fleet of aerial work platforms with that of Riwal. The company said the merger, which took effect on December 1, marks the culmination of months of preparation and integration since the deal was first announced in March.
It said the merger will combine the strengths of the respective companies, while also creating the largest aerial work platform provider in the Netherlands.
The merger has also increased the number of hubs that Boels operates in the Netherlands from five to nine, which it said further improves geographical coverage and enables a faster and more efficient service through its 110 branches nationwide.
Meanwhile, United Rentals Power & Tool Solutions, formerly known as EQIN and Indu-Tools, opened a new consolidated branch in the Botlek area of Rotterdam.
The location, situated on Shannonweg, will serve as the main Dutch hub for its power & tool specialism. The company said it will offer centralised expertise, equipment, and solutions to better serve customers.
The former Indu-Tools branch on the Driemanssteeweg will remain operational as a depot for the issue and collection of equipment in the Waalhaven area.
Event news
As we near 2025, it is also no surprise that the eyes of many are turning towards some of the biggest events the year will have to offer.
Starting in North America, the American Rental Association (ARA) announced its 2025 inductees into its Rental Hall of Fame.
The ARA said that Bick Jones, Peter Lancken AM and David Wilcox II will be be celebrated for their “exceptional contributions to the equipment and event rental industry” during The ARA Show 2025 in Las Vegas in January.
Another big event, of course, will be Bauma in April. With that in mind, Hitachi Construction Machinery (Europe) said it will showcase a broad range of machines at the event in Munich.
The company is planning to display more than 30 machines on its 4,000 square metre stand, ranging from one to 120 tonnes. This includes battery-electric machines, ranging from 1.7 to 14 tonnes – the largest model will be available to view on the stand’s demo area.
A first look at what can be expected at Bauma can be found here.
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