Ashtead Group plc, parent company of Charlotte, N.C.-based Sunbelt Rentals, last week said A-Plant, its United Kingdom equipment rental division, acquired Lux Traffic Controls for 15.5 million pounds (about U.S. $29.1 million).
“The acquisition of Lux, when combined with A-Plant’s existing traffic-systems rental business, will make A-Plant the largest provider of traffic systems on a rental basis in the U.K. and significantly extends our penetration of this attractive market,” said Ashtead chief executive George Burnett.
A-Plant will absorb the more than 40 Lux branches, giving the company more than 50 dedicated portable traffic-systems rental locations, and more than 250 total equipment rental branches.
Sat Dhaiwal, A-Plant chief executive, said the company plans to double its market share over the next three years, and that the acquisition was part of that plan.
Lux Traffic Controls was founded in 1966 and reported revenues of 19.1 million pounds (almost U.S. $36 million) in the year ended July 31, with pre-tax profits of 900,000 pounds.
A-Plant recently appointed its best annual financial results, reporting annual volume of more than 160 million pounds (U.S. $300 million), with operating profits of 13.9 million pounds (about U.S. 26.1 million).
