Friday Roundup: Boels used equipment | Manitou-Kiloutou electric retrofit | OEM American expansions

This week’s Friday Roundup includes a variety of news, including changes for two large rental houses, an electric retrofit collaboration, and American expansion for two big OEMs. Let’s take a look at what happened.

Netherlands-based renter Boels Rental has partnered with its Scandinavian subsidiary Cramo to launch a digital marketplace for the sale of used machinery.

The equipment has been made available via a new shared digital platform, where a wide range of second-hand equipment can be purchased, Boels said.

H&E Equipment Services reported strong earnings for the first quarter of the year, but announced it will be cutting back on capex.

Total revenues for the three months ending March 31 increased 15.2%, while total equipment rental revenues showed a 12.7% increase. Meanwhile, the company grew its branch footprint by 17%. Still, CEO Brad Barber says the company has reduced its 2024 guidance for gross fleet investment.

“Our current outlook for the equipment rental industry indicates a transitioning business environment, with moderating growth levels compared to the exceptional rate of growth in construction spending and strong business dynamics experienced over the past 24 months,” he stated. “We believe the easing in the progression of construction spending is in part the result of a ‘higher for longer’ interest rate environment and generally tighter lending standards, which have contributed to a greater supply of rental equipment.”

Manitou Group has presented the first electric retrofit telehandler, part of a collaboration with Europe’s third-largest rental company Kiloutou.

The preview of the first unit, converted from a used combustion model, is the result of the partnership between Manitou Group and Kiloutou, which began in early 2023.

Manitou Group’s R&D and Services & Solutions teams has been working on the technical feasibility of the project over the last year, and came up with an electrification kit in line with the specifications shared by Kiloutou. 

The new Texas plant will be JCB’s second largest after the manufacturer’s World HQ in the UK. (Photo: JCB)

Meanwhile, some major OEMs are planting deeper roots in North America. JCB, for example, has started work on a new US$500-million JCB factory in San Antonio, Texas, US, which is said to be the biggest-ever investment in the company’s history.

The factory will make Loadall telescopic handlers and aerial access equipment, with production scheduled to start in 2026. 

Sweden-based quick coupler and tiltrotator specialist Steelwrist, for its part, officially opened its North American headquarters in Newington, Connecticut, marking a key milestone in its expansion strategy.

Currently believed to be the fastest-growing tiltrotator supplier in North America, the company held an inauguration ceremony to mark the achievement.