CHARLOTTE, N.C. — Sunbelt Rentals last month acquired seven Southern Florida branch locations from HSS RentX. The transaction price of about $1.7 million, according to an Internet report, is subject to certain adjustments on asset verification. After the consolidation of two of the acquired locations into nearby existing Sunbelt locations, Sunbelt will serve the greater South Florida market from its expanded network of 12 locations.

Officials from Ashtead, Sunbelt's British parent company, said RentX' eight Florida branches brought in about $4.5 million in annual volume. Ashtead said it is also looking to acquire the property of one of the locations for about $800,000.

“This acquisition is an integral part of Sunbelt's plan to grow our business and increase share in targeted major markets,” said Sunbelt Rentals president Cliff Miller. “This gives us the opportunity to cluster significant infrastructure and better serve our customers.”

“After looking at the local HSS RentX business and meetings its employees and customers, we were convinced that the acquisition was the right vehicle to significantly grow our presence in the greater South Florida market,” added Sunbelt's regional vice president Doug Bertz. “We are working closely with on-site management to implement a fleet investment and growth plan that will more than double the product offering at the new branches over the next six months.”

Hageman, Stansberry & Associates, based in Cameron Park, Texas, and Arlington, Texas, assisted RentX in the transaction.

The South Florida HSS RentX branches were part of the original group of stores HSS started when it established the company in the late 1990s.

Based in Charlotte, N.C., Sunbelt Rentals is No. 4 on the RER 100.