Articles
advertisement
Resources
Issue Archive
Event Calendar
Green Industry and Equipment Expo
Power-Gen International
Dec. 2-4
Orlando, FL
www.power-gen.com
World of Concrete
Feb. 3-6, 2009
Las Vegas Convention Center
Las Vegas, NV
www.worldofconcrete.com
The Rental Show
March 2-5, 2009
Georgia World Congress Center
Atlanta, GA
www.therentalshow.com
Private Equity Fund Next Capital Buys Two Australian Rental Companies
Private equity fund Next Capital, which last year spent AU $139 million (about U.S. $122 million) to acquire New Zealand-based Hirepool, last week acquired two Australian rental companies, On Site Australia and On Site Industrial Rentals.
Next Capital acquired a 60 percent stake in the two companies, with the remainder held by vendors and senior management.
Next co-founder said the company expected to capitalize on synergies between the Australian and New Zealand rental companies. He added that the growing trend towards rental rather than buying equipment will benefit the companies as well.
Hirepool managing director Tenby Powell, who retained a 20 percent share in Hirepool, will take a similar share of On Site Australia and has become a director of the new group. The synergies will benefit customers doing business in both countries, Powell added.
On Site Australia, valued at about AU $109 million (about U.S. $95.6 million), was established in Sydney in 1999 and has since expanded to 17 branches in the states of New South Wales, Queensland, Victoria and West Australia.
Acceptable Use Policy blog comments powered by Disqus
Want to use this article? Click here for options!
© 2009 Penton Media Inc.
most recent story
popular articles
advertisement
Popular Articles
- Sunbelt/Ashtead Posts Solid First Half While Slowdown Looms
- Volvo Adapts to Weakened Demand CEO Tells Investors
- United Rentals Names New CFO
- RSC Hires New VP of Human Resources
- Deere Reports 4Q08 Earnings of $345 Million and Record $2.05 Billion for Full Year
Stock Block
Buyers Guide
Buyers Guide
The RER Industry Directory is the resource buyers like yourself rely on when looking for up-to-date information on the products or services you are searching for.
Learn More
Rental Rate Guide
Rental Rate Guide 2008
Want to know how much equipment is renting for these days? Find out in RER’s original 2008 Rental Equipment Rate Guide.
Learn More



