WEST PERTH, Australia — Emeco International last month agreed to acquire independent earthmoving rental and sales company Bevans for $9.7 million Australian (about U.S. $7.2 million.) The purchase price will be payable in cash and shares in Emeco Ltd.'s parent company, Emeco Holdings Ltd.
The acquisition is expected to be completed early this month, Emeco said.
Under the agreement, Emeco will obtain 31 machines and all inventory and parts. Bevans principal Laurie Bevan will join Emeco's Australian management team.
Emeco is active in the rental market in Australia, Indonesia, the Netherlands and North America, where it has branches in Houston and Atlanta, and last year acquired River Valley Equipment, based in Edmonton, Alberta, Canada.
The company is No. 76 on the RER 100.