RSC Holdings, parent of RSC Equipment Rental, last week announced it has agreed to purchase the operations and certain assets of Providence, R.I.-based American Equipment Rentals. Terms of the transaction were not disclosed.
American, a provider primarily of aerial equipment and forklifts, has branches in Woburn, Mass., and New Britain, Conn., and is being sold by parent corporation FST Equipment Rentals LLC and AER Holding LLC. AER has annual revenue of about $19 million. The company, one of the largest independent aerial equipment rental companies in New England, is No. 83 on the new RER 100, with reported 2007 rental volume of $18.2 million.
“The addition of American is a key initial step in building a solid presence in New England,” said Erik Olsson, RSC president and CEO. “American — as an established business with solid, long-standing customer relationships, a tenured sales force and excellent leadership — represents an ideal platform for expanding RSC’s best-in-class customer service capabilities into this market. We look forward to continuing to deliver outstanding value to customers in New England.”
RSC expects the acquisition to close early in the third quarter. “The acquisition is expected to be neutral to RSC’s earnings per share in 2008 and modestly accretive in 2009,” RSC said.
Based in Scottsdale, Ariz., RSC Equipment Rental is No. 2 on the new RER 100.