H&E Equipment Completes Acquisition of J.W. Burress
Baton Rouge, La.-based H&E Equipment Services last week announced that effective Sept. 1, it completed the previously announced acquisition of all of the capital stock of J.W. Burress Inc., for a formula-based purchase price of approximately $96.0 million, subject to post-closing adjustment and other contingent payments, plus assumed debt of approximately $2.4 million....
Strong Rise in Q1 Profits for Sunbelt, Ashtead
Ashtead Plc, United Kingdom-based parent company of Sunbelt Rentals, last week posted a 26 percent rise in fiscal first quarter profits. ...
Coates Rejects Higher Offer by National Hire and Carlyle Group
Australian rental company National Hire Group Ltd. and private equity firm The Carlyle Group followed up an earlier bid to acquire Australia’s largest rental chain Coates Hire Ltd., only to have it once again be rejected by Coates management....
RSC Obtains GSA Contract
RSC Equipment Rental was awarded a multi-year General Services Administration schedule contract, the company announced last week....
Wacker Listed in SDAX of German Stock Exchange
Wacker Construction Equipment AG will be included in the SDAX of the German Stock Exchange beginning Sept. 24, the company announced last week. The decision was made by the Stock Index Committee of the German Stock Exchange....
Hertz Equipment Rental To Open Renovated and New Facilities
Park Ridge, N.J.-based Hertz Equipment Rental Corporation (HERC) last week announced the grand opening and re-opening of locations throughout the country....
ARA Foundation Awards $28,000 in Scholarships
The ARA Foundation last week announced it has awarded $28,000 in scholarships to 17 students from throughout the United States, all pursuing careers in the equipment rental industry. Scholarship awards ranged from $500 to $3,000....
Jacobs Steps Down as United Chairman; United-Cerberus Deal Goes Forward
Brad Jacobs, founder of United Rentals, stepped down as chairman and director of United Rentals Aug. 31. Jacobs has served as chairman since the founding of the company in 1997....
Australian Rental Chain Coates Rejects Acquisition Offers
Australia’s largest rental company Coates Hire last week rejected takeover proposals worth up to AU $1.55 billion (about U.S. $1.26 billion) and plans to restructure the business and continue its growth strategies....
The Venetor Group Moves into Stoney Creek Corporate Office
Stoney Creek, Ontario-based Venetor Group, a Canadian privately owned equipment rental company in south-central and southwestern Ontario, last week announced the opening of its new head office. The custom built, 50,000-square-foot facility is located in Stoney Creek....
Spider Hires Gulf Coast Region Director, Houston Sales Rep
Spider, a division of SafeWorks LLC recently hired Mike Gibbs as area director for the Gulf Coast region. Gibbs will lead, manage and inspire branch sales and operations in the Gulf Coast region. Spider branches in his territory are in Dallas, Houston, New Orleans, and Pensacola, Fla....
Toromont to Supply Equipment and Service for Meadowbank Gold Mine
Toromont Industries Ltd. last week announced that it was selected by Agnico Eagle Mines Limited to supply the mobile equipment and power systems needs of the Meadowbank project north of Baker Lake, Nunavut — the territory's newest open pit gold mine....
The Rental Show Announces Keynote Speaker
Christopher Gardner, whose autobiography “The Pursuit of Happyness” was made into a film starring Will Smith last year, will be the keynote speaker during The Rental Show at the Mandalay Bay Convention Center in Las Vegas. The keynote session, sponsored by Multiquip, is Feb. 12....
Skyjack President Announces Retirement
Skyjack Inc. last week announced that Lloyd Spalding will be retiring as president of the company effective Feb. 29, 2008. ...
RSC Holdings Elects Donald Roof to its Board
The board of directors of RSC Holdings last week announced it has elected Donald Roof as an independent director and member of its audit committee, effective immediately. Roof’s appointment expands the board to 12 members. ...
Skyjack Agrees to Acquire Canadian Telehandler Maker CareLift
Consolidation continued in the aerial industry last week as Skyjack Inc. announced the signing of a share purchase agreement to acquire CareLift Equipment Limited, a telehandler manufacturer in Breslau, Ontario, Canada. ...
Skyjack Strength Holds Up Linamar’s Profits
Linamar Corp., Guelph, Ontario-based manufacturer of precision metallic components, modules and systems for global vehicle markets as well as Skyjack aerial work platforms, reported a small decline in second-quarter profit last week, even though revenues increased. The company earned CD $31.3 million (U.S. $29.1 million) in the quarter, or 45 Canadian cents per share, for the three months ended June 30, compared with a profit of CD $32.3 million (U.S. $30.4 million) for last year’s Q2. ...
Wacker’s Sales, Profits Increase
Wacker Construction Equipment AG last week reported that results for the first half of fiscal 2007 align with budgetary targets, with group sales up 8.1 percent compared with the previous year. The company is expecting further sales and profit growth over the current fiscal year after the merger with Neuson Kramer Baumaschinen AG, based in Linz, Austria, goes ahead this summer....
Red Mountain Machinery Plans Relocation to Riverside County
Heavy equipment rental specialist Red Mountain Machinery last week announced plans to close the Escondido, Calif., facility that has been its headquarters since 1996 and open a new facility in Riverside County. Moving to the Riverside area will allow Red Mountain to extend its service area into the Inland Empire, the high desert area, Palm Springs and Los Angeles, while still allowing it the ability to service its San Diego-area customers....
RSC Holdings Elects Board Member, Expands Board to 12 Directors
The board of directors of RSC Holdings last week announced it has elected Donald Roof as an independent director and member of its audit committee, effective immediately. The appointment of Roof expands the board to 12 members. ...
HERC Opens Renovated Facility in Springfield, Mo.
Hertz Equipment Rental Corp. will celebrate the grand re-opening of its Springfield, Mo., general rental facility Friday, Aug. 24. The event will take place at the store between 11 a.m. and 2 p.m. and will showcase the facility’s renovated 7,000-square-foot showroom and newly expanded product line, which includes small tools, construction equipment and contractors’ supplies....
Ritchie Bros. California Auctions to Feature Equipment Affected by New CARB Regulations
New regulations passed by the California Air Resources Board on July 26, are expected to impact most California-based equipment owners, including those participating in two Ritchie Bros. Auctioneers unreserved industrial auctions in California in the coming month. ...
Compact Track Loaders at Auction
The following figures examine compact track loaders at auction in North America for the period starting Jan. 1, 2006. Figure 1 identifies the 1,750-pound to 2,200-pound size class as the most popular. Figure 2 shows the value and sales activity as a function of year of manufacture for this most-popular size class. ...
H&E Q2 Revenue Jumps While Margins Drop
H&E Equipment Services last week posted a record 15.1 percent second-quarter revenue increase to $233.1 million, compared to $202.5 million in last year’s second quarter. EBITDA increased 2.5 percent to $57.6 million compared to $56.2 million for the year-ago period. ...
Tanfield Finalizes Snorkel Purchase; Designates it Primary N.A. Brand
Tanfield has finalized its $100 million acquisition of Snorkel International and plans to make the Snorkel brand its primary aerial work platform brand in North America. Snorkel last week announced that eight former UpRight models will be re-branded as Snorkel units, including electric scissorlifts, mast and articulated boom lifts targeted at the construction and industrial maintenance sectors, as well as its rough-terrain scissorlifts....
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