SHIPPENSBURG, Pa. — In its latest round of acquisitions, Volvo Rents has acquired rental businesses in Southern California, southern Oklahoma and Houston.
Volvo Rents acquired Max Equipment Rentals, a two-location construction equipment rental company with stores in Oceanside and Perris, Calif. The acquisition comes two months after Volvo Rents' purchased SoCal Rental Equip Rent, bringing Volvo Rents' California's location total to seven.
Max Equipment Rentals is a former RER 100 listee that had had some difficulties in recent years during a recession that hit California particularly hard. However, the state is on the upswing and IHS Global Insight projects that California will lead the nationwide recovery through 2016, spending $723 billion on construction with the third-highest annual average percentage gain of 15.6 percent.
Max Equipment Rentals was founded by Bob McDaris and Mason Bailey in 2000. McDaris will continue as Volvo Rents' southwest division sales manager. Bailey will remain as a consultant for a short period of time. The company also has rental operations in Mexico that were not acquired by Volvo Rents.
“This transaction provides a long-term bridge toward a successful future for both the Oceanside and Perris stores,” said McDaris.
In Oklahoma, Volvo Rents purchased Great Plains Rental, which has stores in Ada, Ardmore, Duncan and Durant, Okla.
Great Plains was founded by Bill Clark and his brother Todd in 2001. Clark's two sons, Will and Garrett will continue with Volvo Rents as general manager and key account manager respectively.
“They're more than a first-rate equipment operation,” said Michael Crouch, vice president of business development for Volvo Rents, speaking of Great Plains Rent-All. “They're good people who support a number of school, church, civic and charitable organizations with their time and finances.”
Fred Hageman of Rental Acquisitions LLC, Cameron Park, Calif., represented Great Plains Rent-All in the transaction.
In Houston, Volvo Rents acquired DixEquip, a single-location independent construction equipment rental company, giving the fast-expanding Volvo Rents 12 locations in the lone-star state.
Volvo pointed to an IHS Global Insight study that projects $473 million in construction spending in Texas between 2011 and 2016. McGraw Hill Construction predicts more than $23 billion in 2012 construction spending and more than $134 billion by the end of 2016.
DixEquip was not a Volvo Rents franchise before being acquired. An independent company, DixEquip was founded in 1998 by John Dixon.
Now with more than 100 rental centers in North America, Shippensburg, Pa.-based Volvo Rents is No. 17 on the RER 100.