Australia’s largest rental company Coates Hire announced last week it has acquired the assets and business of Allied Equipment, which is expected to generate revenue of about U.S. $46.6 million this financial year, which will add about 13 percent to Coates annual revenue.

Allied specializes in earthmoving equipment rental and primarily serves mining operations in Western Australia and Queensland. Coates plans to invest about $23 million in growing Allied.

Coates has more than 180 branches in Australia and Indonesia as well as offshore rental outlets in other parts of Asia and Europe.

The deal is expected to be final by July 1.