Sunbelt Rentals Makes 25 Acquisitions for $1.3 Billion in Fiscal 2022
Sunbelt Rentals and its parent company Ashtead plc spent $1.3 billion on 25 bolt-on acquisitions in fiscal 2022 ended April 30, after spending $172 million in fiscal 2021. The company has continued its spending in the past month and a half after the fiscal year ended, with several more acquisitions. Ashtead/Sunbelt is continuing its growth efforts in preparation for a robust growth economy in the United States, Canada and the United Kingdom and also diversifying its end markets. The acquisitions brought a combined total of 123 locations in North America during the year.
- On May 12, 2021 Sunbelt Canada acquired the business and assets of Island Equipment Rentals, a general tool rental business in British Columbia;
- On May 26, 2021, Sunbelt U.S. acquired the business and assets of Randall Industries, a general tool rental business in Illinois and Indiana;
- On June 24, 2021, Sunbelt U.S. acquired the business and assets of AM13 LLC, trading as Iron Equipment Rental, a general tool business in Ohio;
- On July 21, 2021, Sunbelt U.S. obtained the business and assets of National Drying Technologies LLC, a specialty business in Florida and Georgia;
- On July 28, 2021, Sunbelt U.S. acquired the business and assets of Special Event Service & Rental, a specialty business in Tennessee and Nevada;
- On August 18, 2021, Sunbelt U.S. acquired the business and assets of Lloyd’s Rental & Sales, a general tool business in Pennsylvania;
- On August 25, 2021, Sunbelt U.S. acquired the business and assets of Bedrock Tool & Equipment, a general tool business in Ohio;
- On Sept. 28, 2021, Sunbelt U.S. acquired the business and assets of 202 Rent All, a general tool business in Pennsylvania;
- On Oct. 13, 2021, Sunbelt U.S. acquired the business and assets of Atlas Aerials & Equipment LLC, a general tool business in Illinois;
- On Oct. 22, 2021, Sunbelt U.S. acquired the business and assets of Action Rental Holdings LLC and Action Rentals Trench, Shoring & Supply LLC, a general tool business in Florida, Georgia and Louisiana;
- On Nov. 5, 2021, Sunbelt U.S. purchased the business and assets of All Keys Rentall LLC, a general tool business in Florida;
- On Nov. 19, 2021, Sunbelt U.S. acquired the business and assets of Essex Rental & Sales Center, a general tool business in Vermont;
- On Nov. 23, 2021, Sunbelt Canada purchased the business and assets of Lift Services, when this pandemic hit, a general tool business in Ontario;
- On Dec. 1, 2021, Sunbelt U.S. acquired the entire share capital of Mahaffey Tent & Awning LLC, Mahaffey USA LLC; Mahaffey Industrial Contractors LLC and Cajun Affiliates LLC, a specialty business operating across the United States;
- On Dec. 8, 2021, Sunbelt U.S. acquired the business and assets of Dorado Holdings LLC, trading as Toolshed Equipment Rental, a general tool business in southern California;
- On Dec. 10, 2021, Sunbelt U.S. purchased the business and assets of Jackson Rents & Supply, a general tool business in Florida;
- On Dec. 15, 2021, Sunbelt U.S. acquired the business and assets of Pilchuck Equipment Rental & Sales LLC, a general tool business in Washington;
- On Dec. 17, 2021, Sunbelt U.S. purchased the business and assets of Illinois Truck & Equipment Co. Inc., a general tool business in Illinois;
- On Jan. 21, 2022, Sunbelt U.S. acquired the business and assets of Priority Equipment Rental Ltd., a general tool business in Pennsylvania;
- On Feb. 1, 2022, Sunbelt U.S. acquired the business and assets of Total Equipment Rental, a general tool business in California;
- On Feb. 11, 2022, Sunbelt U.S. acquired the business and assets of California High Reach & Equipment Rental, a general tool and access equipment rental business in California;
- On Feb. 15, 2022, Sunbelt U.S. purchased the entire share capital of ComRent Holdings, a specialty rental business operating in California, Illinois, Maryland, Texas and Ontario, Canada;
- On March 18, 2022, Sunbelt U.S. acquired the business and assets of D&D Lift LLC and Reach Solutions II LLC; a general tool and access rental business in California;
- On March 22, 2022, Sunbelt U.S. acquired the business and assets of Bondservant Life, trading as CBB Sales & Rental, a general tool business in Alabama;
- On March 24, 2022, Sunbelt U.S. purchased the business and assets of Baker Rentals and Sales and Baker Party Rentals, a general tool and party rental business in southern California.
Sunbelt didn’t stop its acquisitions at the end of the fiscal year. Since the balance sheet date, the group has completed five more acquisitions for a total purchase price of $230 million.
- On May 5, 2022, Sunbelt U.K. purchased the entire share capital of Movietech Camera Rentals Ltd. And Movietech Cymru Ltd., a lighting, grip and lens business;
- On May 13, 2022, Sunbelt U.S. acquired the business and assets of the power rental division of Filmwerks LLC, a specialty business in North Carolina;
- On May 20, 2022 Sunbelt U.S. purchased the business and assets of Mashburn Equipment LLC, a general tool business in Georgia.
- On June 1, 2022, Sunbelt Canada acquired the entire share capital of MacFarlands Ltd., a general tool rental business in Nova Scotia and New Brunswick;
- On June 8, 2022, Sunbelt U.S. acquired the business and assets of Amos Metz Rentals & Sales, a general tool business in California.
Dan Conway of Craft Partners LLC represented the previously announced Iron Equipment Rental and Essex Rental & Sales Center as well as the newly announced D&D Lift & Reach Solutions and Mashburn Equipment.
For a closer look at Sunbelt Rentals fiscal fourth quarter and full year 2022 financial results, go to: https://www.rermag.com/home/article/21244431/sunbelt-rentals-posts-226percent-rental-revenue-jump-in-fiscal-2022
