From The Editor
This week we are including some interesting analysis on the 2007 economy provided by Ken Simonson, chief economist for the Association of General Contractors. Simonson takes a look at the prospects for various types of construction for 2007. I’ve been following Simonson’s reports for a while and have found his insight to be excellent. Scroll down to Trends & Analysis and check out Simonson’s views. This week also brings an interesting Q&A with Ron DeFeo, CEO of Terex, on a variety of topics, and for those who might have missed last week’s interview with Dan Kaplan, it’s still available. Scroll down and check it out. For those of our readers attending this week’s World of Concrete show and viewing RER Reports on your laptop with little time to read, don’t forget that you can always log in to RER Reports at http://www.rerreports.com. ...
Private Equity Group Cancels Agreement to Acquire One Source
Oakmont Acquisition Corp. said it has terminated its previously announced agreement to acquire One Source Equipment Rental. Oakmont announced last summer an agreement to acquire One Source, a company that focuses on the industrial and general construction market and has locations in Dayton, Ohio; Lafayette, Ind.; and Decatur, Granite City and Morton, Ill....
Capital Rentals Divests Party Rental Division
Capital Rentals, a major player in the Washington, D.C., metro area, last week sold the assets of its party rental division, Capital Party Rentals, to John Moran, a veteran of the special event rental industry and previous president of Classic Party Rentals....
Cincinnati Rental Group Organizes Rental Show Bus Trip
The Greater Cincinnati Tool Rental Association is organizing a bus to take rental people to The Rental Show in Atlanta, Feb. 8-10. The bus, sponsored by a group of a dozen show exhibitors, will leave Cincinnati on the evening of Feb. 8, drive all night and arrive in Atlanta in the morning, giving participants two full days on the show floor....
Jesco Expands Fleet With Specialty Equipment
South Plainfield, N.J.-based Jesco, one of New Jersey's leading construction equipment dealerships, recently decided to expand its equipment fleet through the addition of several product lines including water trucks, pavers and a variety of specialty attachments including extended reach booms, side booms and rotating crushers....
Ahern Rentals Prices Senior Notes Offering
Ahern Rentals last week announced that it has priced an offering of $90 million aggregate principal amount of its 9 ¼-percent second-priority senior secured notes due 2013 in a private offering under Rule 144A of the Securities Act of 1933. The notes were priced at 103.75 percent of par, representing a yield to maturity of 8.497 percent. ...
From The Editor
Business is back in full swing after the holidays, and soon the Associated Equipment Distributors convention, World of Concrete and American Rental Association conventions will bring new products and business opportunities as well as new opportunities for people in the industry to get together and network and debate issues. But the New Year cannot be inaugurated properly without taking a look at what foremost industry consult Dan Kaplan has to say about the year ahead. Please scroll down to “Trends and Analysis” and see what Kaplan has to say about private-equity funds, the globalization of rental, telematics (or telemetrics) systems, software, the future of the independent, expectations for 2007, the penetration of rental and the advent of the $10 billion rental company. And more. ...
Stephenson’s to Explore Strategic Alternatives
Stephenson’s Rental Services last week announced that its board of trustees has initiated a process to identify and evaluate strategic alternatives to maximize unitholder (shareholder) value. The strategic review process is being undertaken in response to the recent announcements by Canada’s Department of Finance to impose a tax on income trusts, and the new challenges facing the income trust sector as a result. Canadian income trusts avoid most corporate taxes by making regular cash distributions to unitholders....
Kropp Equipment Enters Milwaukee Aerial Rental Market
Kropp Equipment is on the verge of opening a branch in Milwaukee, owner Al Kropp told RER Reports. Kropp said he hopes to begin moving into the facility over the next 10 days....
Former RSC Executive Jim York Dies
Former RSC Equipment Rental executive Jim York died suddenly of a heart attack between Christmas and New Year’s, while on a hunting trip in Texas, Volvo Rents’ Pete Post told RER Reports....
Harsco Wins $4 Million Contract With British Army
Worldwide scaffolding supplier Harsco Corp. last week announced a $4 million contract to provide scaffolding and related access services for two years for the refurbishment and modernization of two major British Army garrisons in the south of England....
Rental Industry Veteran Dan Suchan Joins MMD Equipment
Swedesboro, N.J.-based MMD Equipment announced last week that Dan Suchan has been appointed to vice president of national accounts. Suchan will be responsible for developing relationships with key national rental companies and marketing MMD’s line of construction-related products to those customers. ...
RSC Announces Winner Of Ford Pickup Truck
Frank Zwolinski, president of Wirtz, Va.-based Oakenshield Development Co., a full-service building and contracting firm, is the winner of RSC Equipment Rental’s “Tell Us How You Feel — To Get Behind The Wheel” contest for a new Ford pickup truck....
Private Equity Group Acquires United Rentals’ Traffic Control Business
United Rentals recently announced it signed a definitive agreement to sell its traffic control business to HTS Acquisition Inc., an entity newly formed by affiliates of private equity investors Wynnchurch Capital Partners and Oak Hill Special Opportunities Fund, L.P....
Home Depot CEO Nardelli Resigns
Bob Nardelli last week resigned abruptly as chairman and CEO of The Home Depot after a six-year tenure during which, despite large profits, Home Depot stock dropped 12 percent....
HERC Opens Seattle Branch; Analysts Urge “Buy”
Hertz Equipment Rental Corp. last week opened a new aerial services location in Seattle. It’s the Park Ridge, N.J.-based company’s first aerial services facility in the state....
Manitowoc Crane Group to Purchase Carrydeck Product Line
Manitowoc Crane Group last week agreed to purchase Marine Travelift’s Shuttlelift Carrydeck line of industrial cranes. Crane Group and Marine Travelift executives said the move is beneficial for both companies....
From The Editor
On behalf of the entire RER staff, we’d like to wish you and your families a happy, healthy holiday season and a happy new year as well. We wish the best for you in your businesses as well as your personal lives.
This will be the last issue of RER Reports for 2006. Our first edition of RER Reports in 2007 will be published Jan. 8. In the meantime, please check www.rermag.com for news updates.
It has been a pleasure communicating with our readers every week and we look forward to continuing coverage of the rental industry in 2007.
...
Finning Forecasts Continued Growth
Finning International officials last week said the company will conclude a record year in 2006 and expects even better performance in 2007, led by strong economic conditions in Western Canada as well as South American markets....
Cramo Acquires Top Lithuanian Aerial Rental Company
Cramo PLC, formerly known as Rakentajain Konevuokraamo Oyj, last week acquired UAB Aukstumines Sistemos, the leading Lithuanian access platform rental company. AS specializes in renting aerial work platforms to construction, installation companies and general industry, from three branches in Lithuania....
Hirequip Shareholders Approve Sale
Hirequip Shareholders met last week to approve the sale of New Zealand’s largest rental company to Pacific Equipment Solutions, an associate of Japanese private equity fund Nikko Principal Investments. Nikko shareholders recently met to approve the transaction....
Jenne Britell Appointed to United Rentals Board
United Rentals last week announced that Jenne Britell joined the company’s board of directors. Britell is chairman and CEO of Structured Ventures, advisors to private equity and venture capital firms. She has served in this capacity since 2001. ...
Aggreko Names Pool to Western U.S. Post
Aggreko LLC, the world’s leading supplier of rental power, temperature control and oil-free compressed air, last week named Bruce Pool west business unit vice president, reporting directly to Aggreko president George Walker. Pool will be responsible for the western half of the North American business and Aggreko Cooling Tower Services....
Genie Launches New Fleet Services Program
Genie Industries last week announced the launch of its new Fleet Services program, which expands on the level of service provided by the former Genie Access Services program....
Former Rental Center Owner and TRA President Joins On-Board Communications
Jim Reagan, former president of the Texas Rental Association and former owner of Taylor Rental in Mesquite, Texas, has joined On-Board Communications as national rental account manager to grow the company’s newly launched products and services for managing, protecting and tracking rental equipment....
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