Canadian Equipment Rental Fund, parent of 4-Way Equipment Rental, posted CDN $17.7 million (about U.S. $14.3 million) in first quarter revenue, a record for the company, and a 42.1-percent increase compared to the first quarter of 2014. The increase was largely the result of contributions from the assets acquired from Empire Tool and the acquisition of Winalta Inc. in 2014.
The revenue increase was also supported by strong results from the Waste Management segment of the company, which posted 13 percent revenue growth year over year for the first quarter.
TRAC, the oilfield rentals segment, reported record revenues of $9.7 million for the quarter, a 289-percent increase, largely the result of the acquisitions of Empire and Winalta. Excluding the acquisitions, the segment increased 4 percent.
Industrial rentals revenue declined $1.5 million or 27 percent because of delays on certain construction projects, as well as warmer average temperatures, reducing demand for heating equipment, a large part of CERF’s rental fleet.
4-Way Equipment Rentals, based in Edmonton, Alberta, Canada, is No. 75 on the RER 100.
