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....
Sunbelt Rentals Posts Strong Earnings for the First Half of the Fiscal Year
Sunbelt Rentals recently reported strong results in the six-month period ended Oct. 31, 2006, with revenues increasing by 46.8 percent to $597 million....
JLG Ships First Cat-Branded Telehandlers to Cashman
The first telehandlers manufactured by JLG Industries and branded with the Caterpillar name were recently delivered to Las Vegas-based dealership Cashman Equipment. JLG and Caterpillar reached an agreement in October 2005 for the McConnellsburg, Pa.-based aerial equipment manufacturer to produce telehandlers for Caterpillar to bring to market under its own brand....
Emeco Acquires Euro Machinery and Euro Rental
Emeco International Europe, a wholly owned subsidiary of Perth, Australia-based Emeco Holdings last week completed an agreement to purchase all of the issued shares of Euro Machinery BV and Euro Rental BV for AU $10.8 million (about U.S. $8.5 million)....
Ashtead Boosts First-half Profits, Revenues 35 Percent
United Kingdom-based equipment hire group Ashtead Group last week reported a 35-percent increase in fiscal first-half underlying pretax profit....
Volvo Construction Equipment Rents Opens New Rental Center in Arizona
Volvo Construction Equipment Rents last week announced the opening of a new independently owned Volvo Rents equipment rental center in Thatcher, Ariz....
Biography of John L. Grove Published
A new biography of John L. Grove tells the story of the aerial work platform and crane pioneer who founded two of the most important manufacturers in the aerial industry — Grove Manufacturing, founded in 1947 and now a division of the Manitowoc Crane Group, and JLG Industries, founded in 1969....
Schwab Sales Completes Refinancing
Gilbert, Ariz.-based Schwab Sales LLC, an earthmoving rental specialist, recently completed a $95 million refinancing....
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