Sunbelt Rentals To Acquire NationsRent
Sunbelt Rentals, Inc. and NationsRent Companies, Inc. jointly announced that
"NationsRent is a high quality company which, like Sunbelt, has an attractive and significant exposure to the growing non-residential construction market in the US.,” said George Burnett, CEO of Ashtead Group plc, owner of
Sunbelt CEO and President Cliff Miller said that the transaction would “immediately extend the reach of the combined companies to eight additional states. Since there are very few overlapping branch locations, there will be plenty of growth opportunities for branch network employees of both companies as the combined company works to serve its expanded customer base.
“The two companies also have very different specialty operations which are complementary rather than redundant, such as NationsRent's Lowe's retail-based program and its expanding dealership network along with Sunbelt's pump, power and scaffolding operations,” Miller added. “By adding NationsRent's relatively new rental fleet to
The consummation of the merger is subject, among other things, to approval by the Ashtead shareholders, the consummation of certain financing arrangements and government approvals. The board of directors of NationsRent has unanimously voted in favor of the move, a NationsRent official said.