RentX Acquires McKenneys' Rent-All Shops

Apr 1, 2000 12:00 PM, RENTAL EQUIPMENT REGISTER STAFF

COLUMBIA, S.C. - Denver-based RentX Industries last month acquired The Rent-All Shops, based here. Acquisitions manager Darrel Fiene told RER that former owners Joe and Pam McKenney will retire after a short transition period.

The Rent-All Shops has four tool and equipment rental locations in South Carolina, and party locations in Columbia and Atlanta. Mike Davis and Al Payne, who managed the party and tool divisions, respectively, for The Rent-All Shops, will continue with RentX as area managers for the company's South Carolina and Georgia operations.

Pam McKenney is the third former ARA president to sell a company to RentX. Skip Evans, RentX president and CEO, sold Zodiac Rentals to RentX during his tenure as ARA president, and Hotch Manning later sold his Las Cruces, N.M.-based rental company to the firm.

RentX, No. 16 on the RER 100, now has 75 locations in 13 states.

French Building Giant to Acquire RentX Parent LONDON - French building materials giant Saint-Gobain has offered more than $1.7 billion to acquire Meyer International, which operates 150 tool rental locations in the United Kingdom and owns Denver-based RentX.

Meyer's board unanimously agreed to recommend the offer, which represents a 60 percent premium over a Jan. 28 closing price, to shareholders.

The takeover of London-based Meyer would make Saint-Gobain the No. 1 player in the European building materials market, which is rapidly consolidating.

It was not immediately clear how the transaction might affect Meyer's U.S. rental operations, though analysts said the company was seen to be "dragging its feet on its U.S. strategy" regarding its laminate business, which has faced margin pressure in competition with Home Depot.

RentX officials could not be reached for comment. RentX had total 1998 revenue of $58.5 million from 77 locations.

Sales of building materials account for about 80 percent of Meyer's revenue, estimated at $2.7 billion, according to analysts.