West Perth, Australia-based Emeco International last week agreed to acquire independent earthmoving rental and sales company Bevans for $9.7 million Australian (about U.S. $7.2 million.) The purchase price will be payable in cash and shares in Emeco Ltd.’s parent company, Emeco Holdings Ltd.

The acquisition is expected to be completed in early July. Under the agreement, Emeco will obtain 31 machines and all inventory and parts. Bevans principal Laurie Bevan will join Emeco’s Australian management team.

Earlier this month, Emeco said it anticipates lodging its prospectus for its proposed initial public offering on the Australian Stock Exchange by the end of this month.

Emeco is active in the rental market in Australia, Indonesia, The Netherlands and North America, where it has branches in Houston and Atlanta, and last year acquired River Valley Equipment, based in Edmonton, Alberta, Canada.

The company is No. 76 on the RER 100.