Headline News
From The Editor
It has been an eventful week in the rental industry. Private equity firm Platinum Equity Capital has reached an agreement to acquire Maxim Crane Rental, the second-largest crane rental company to be acquired by a private equity firm in the past month....
Burris Revenues Boost H&E’s First Quarter Increase
H&E Equipment Services increased 17.2 percent to $245.8 million in first-quarter revenue, compared with $209.7 million in the first quarter last year. The company’s recent acquisition of J.W. Burress in the mid-Atlantic region contributed $27.6 million of the $36.1 increase. EBITDA jumped 7.8 percent to $56.4 million compared with $52.3 million in the same period last year, with Mid-Atlantic contributing $1.4 million....
Private Equity Firm to Acquire Maxim Crane
Maxim Crane Works Holdings last week announced a merger agreement with affiliates of Platinum Equity Capital Partners. The agreement calls for Platinum Equity to acquire all of the outstanding common stock of Maxim Crane for $42.50 per share in a cash transaction....
Stephenson’s Opens Niagara Falls Branch
Mississauga, Ontario-based Stephenson’s Rental Services last week announced the extension of its branch network into the Niagara Region with a new location, which opened May 1 in Niagara Falls, Ont. The 8,000-square-foot facility will enhance Stephenson’s ability to serve its broad customer base across Southern Ontario....
Brandeis Machinery to Construct New Evanston Facility
Brandeis Machinery, one of the largest equipment dealerships in North America, has acquired 16 acres of land cycles to build a new facility in Evanston, Ky. Charles Leis, president of the Louisville-based company, said the planned new retail location, which will include a large equipment showroom, will cost $4.8 million to construct. The location will have more than 42,000 square feet of space, one-third larger than the current facility. Construction will begin after infrastructure is completed, including highway exists and access roads....
Topp Portable Air Opens in North Carolina and Texas
Aston, Pa.-based Topp Portable Air, a leading manufacturer and distributor of portable air conditioners, spot coolers, portable dehumidifiers and temporary heating equipment, recently strengthened its hold on the market by opening new offices in Carrollton, Texas, and Charlotte, N.C., the company’s 14th and 15th locations respectively....
CNH Capital Expands Into Puerto Rico
As part of a strategic growth initiative aimed at developing new markets for its products and services, CNH Capital, the financial services business of agricultural and construction equipment maker CNH Global N.V., last week announced that it is now serving equipment dealerships and their customers in Puerto Rico....
United Rentals Names Vice President and Chief Information Officer
United Rentals last week named Kenneth DeWitt vice president and chief information officer, effective immediately....
The Rental Show Reports 2008 Event Audit Results
The American Rental Association last week announced that The Rental Show has received the results of the first event audit conducted of the show by BPA Worldwide, a global media auditor based in Shelton, Conn. The audit verified the attendance numbers, demographics and geographic distribution for the 2008 show, held Feb. 11-14 at the Mandalay Bay Convention Center in Las Vegas....
Point-of-Rental Systems Announces 1000th Installation
Point-of-Rental Systems, a major provider of rental management systems, successfully completed the installation of its rental management software at Northwood Rentals in Hyde Park, Utah. Northwood Rentals was the 1000th store to install the company’s software....
Nortrax Takes on Sakai Line in Three States
Sakai last week named Nortrax its authorized dealer in Michigan, Minnesota and Wisconsin. Sakai America, based in Adairsville, Ga., offers a full line of vibratory soil compactors, asphalt rollers, and other compaction products....
Michigan Cat Adds LeeBoy Line
Novi, Mich.-based Michigan Cat last week said a new agreement with Lincolnton, N.C.-based LeeBoy, giving it exclusive rights to distribute paving and construction equipment in the state will help it expand rental and sales to smaller, commercial projects....
United Rentals Celebrates 20th Homebuilding Partnership with Extreme Makeover: Home Edition
United Rentals and popular television show Extreme Makeover: Home Edition recently re-partnered to build three homes and a church in Katrina-ravaged Louisiana. The project also marked a milestone for United Rentals, which recognized its employees’ involvement in the construction of 20 Extreme Makeover: Home Edition construction projects with an online photo gallery at unitedrentals.com....
Modern Group’s Griffith Contributes to McGraw-Hill’s Compensation Handbook
New York-based publisher McGraw-Hill will release the fifth edition of The Compensation Handbook next month with a chapter contributed by Dave Griffith, CEO of The Modern Group and Bristol, Pa.-based Modern Equipment, which is No. 46 on the RER 100....
United Rentals Emphasizes Core Rental Business in Q1 Results
United Rentals boosted rental volume to $571 million in the first quarter of 2008, compared with $567 million for the same period last year. However, total volume declined from $838 million in Q106 to $772 million in this year’s first quarter. The increase in rental revenue and decrease in total revenue are consistent with the company’s previously announced plan to refocus on its core business of equipment rental, de-emphasizing the supply business and the divested traffic safety business....
Wacker Corp. Officially Changes Name to Wacker Neuson Corp.
Wacker Corp. last week announced it is renamed Wacker Neuson Corp., effective immediately. The name change was entered in the Wisconsin Department of Financial Institutions on April 9. Wacker Neuson Corp., Menomonee Falls, Wis., is an affiliate company of Wacker Construction Equipment, AG, Munich, Germany. This move aligns with plans to change the name and legal form of the parent company in June 2008, when it will become Wacker Neuson SE....
Topp Portable Air Opens Florida Distribution Center
Topp Portable Air, a leading manufacturer and distributor of portable air conditioners, spot coolers, portable dehumidifiers and temporary heating equipment, recently strengthened its position in the Florida market by opening a fully stocked and staffed distribution center in Jacksonville, Fla. Topp specializes in both the sale and rental of temperature-control equipment for the construction, commercial and special event industries....
Sunbelt Rentals Announces Champaign, Ill., Grand Opening
Sunbelt Rentals last week announced it will celebrate the grand opening of its newest full-service rental branch in Champaign, Ill., on Thursday, May 8, from 11 a.m. to 4 p.m....
Volvo Rents Opens New Rental Center in Rockford, Ill.
Jack Moser, president and CEO of McAllister Equipment Co., last week announced the opening of a new Volvo Rents franchise in Rockford, Ill. McAllister Equipment, in operation since 1955, has long been a Volvo construction equipment dealer. ...
Rushing & Mason Sells $2.74 Million of Equipment Through IronPlanet
IronPlanet, an international online auction company for used construction and agricultural equipment, recently liquidated $2.74 million of equipment for Rushing & Mason of Memphis, Tenn., and Little Rock, Ark., achieving 121 percent of its initial price target....
HERC Acquires Connecticut Aerial Company
Hertz Equipment Rental Corp. last week announced the acquisition of Hamden, Conn.-based All Reach LLC, one of the top aerial rental and services companies in New England. All Reach serves clients throughout Connecticut, Westchester County, N.Y., Rhode Island and western Massachusetts....
RSC Posts 7 percent Q1 Rental Volume Increase
RSC Equipment Rental posted a 7.0 percent first-quarter increase in rental revenues, with $372.3 million, compared with $348.0 in the first quarter of 2006. Same-store rental revenue growth was 4.6 percent for the quarter, while rental rates dropped 0.4 percent from the previous year’s first quarter....
HERC’s Worldwide Revenue Up 5.4 Percent in Q1
Hertz Global Holdings recorded record first-quarter 2008 worldwide revenues of $2.04 billion, a 6.1-percent increase compared with the first quarter 2007. Revenues from international operations constituted 33.3 percent of worldwide revenues....
New Corporate Manslaughter Act Takes Effect in U.K.
International Powered Access Federation officials commented on the new Corporate Manslaughter and Corporate Homicide Act 2007 at the IPAF Summit on April 15. The Act, which went into force on April 6, and applies across the United Kingdom, will support well-managed access companies by punishing those that take unjustifiable risks with people’s safety, according to barrister Denis Barry, who spoke at the summit....
IPAF Elects John Ball President
John Ball, group managing director of Ireland-based Height for Hire, was elected president of the International Powered Access Federation at its annual general meeting on April 15. ...
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