January 2024:
· In the month of January, H&E Equipment Services finalized its acquisition of Arizona’s Precision Equipment Rentals, a mid-sized equipment rental company with branches in the Denver and Phoenix metropolitan areas.
· Magni Telescopic Handlers announced a new dealership agreement with Western Pacific Crane & Equipment, which became an authorized dealer of Magni’s full line of telehandlers in Oregon and Washington.
· Drain-cleaning equipment manufacturer Electric Eel Manufacturing, based in Springfield, Ohio, announced that 2024 is its 85th year as a manufacturer of professional quality drain and sewer cleaning equipment.
· Dynapac North America adds Monroe Tractor as a dealer for soil rollers, small tandem rollers and light compaction equipment in Massachusetts, Connecticut and Rhode Island from its three New England branches.
· Hy-Brid Lifts names David Price director of sales covering the southeast United States.
· U-Haul says more people moved to Texas via U-Haul one-way trailer rental than any other state in 2023, the third consecutive year that Texas was the top destination for one-way trailer rentals.
· Dan Rice is named national sales manager of Bon Tool Co.
· BigRentz, the nation’s largest online construction equipment rental network, announces a strategic partnership with Billd to give customers access to financing options for construction materials and labor.
· Durante Rentals, doing business as Iron Source, opens a new location in Delmar, Del.
· Independent U.K. tool and plant hire company City Hire opens a new distribution center in Warrington, Northwest England.
· Titan Machinery acquires the assets of Scott Supply Co., which has one full-lined combined Case IH and New Holland Agriculture dealership in Mitchell, S.D.
· Caterpillar signs an electrification strategic agreement with CRH to advance the deployment of Caterpillar’s zero-exhaust emissions solutions.
· HD Hyundai’s vice chairman Kisun Chung addresses CES 2024 and introduced the company’s three main goals: safety, site autonomy and decarbonization, as well as the company’s AI-based solution X-Wise.
· United Rentals outlines ways companies can implement sustainable business practices that reduce equipment greenhouse gas emissions while maintaining jobsite productivity and safety in a white paper called “Roadmap to Low-Emission and Zero-Emission Jobsites.”
· CES Power LLC, a global provider of sustainable mobile power generation, distribution, and temperature control solutions for large events, acquires Fourth Generation, a provider of temporary power services to live events and the entertainment industry. CES Power is backed by private-equity firm Allied Industrial Partners.
· Caterpillar collaborates with Microsoft and Ballard Power Systems to demonstrate the viability of using large-format hydrogen fuel cells to supply backup power for multi-megawatt data centers.
· United Rentals announces it set several revenue records in the fourth quarter and full year 2023, creating a strong buzz on Wall Street by topping market expectations.
· United Rentals opens San Angelo branch, its 26 rental location in Texas.
· Mazzotta Rentals hires former Able Equipment Rentals CFO Thomas Caldaroni as its new chief administrative officer. Caldaroni managed Able’s recent sale to United Rentals.
· Sunstate Equipment purchases the assets and ongoing operations of all Trench Shore Rentals and Trebor Shoring Rentals locations in Arizona, California and Texas.
· Respondents to the Baird/RER equipment rental survey for the fourth quarter of 2023 reported revenue about 6 percent up year over year, but only 18 percent of respondents had better-than-expected results with 40 percent reporting missing internal budgets.
· Bob Bradshaw, a rental and equipment industry veteran who most recently was regional vice president for Genie on the west coast, died recently at the age of 70. Bradshaw worked for Genie for 22 years, starting out as a regional sales manager.
· United Rentals announces an access management solution that manages jobsite and equipment access through RFID badges.
· 4-Horn Trench & Shoring, a provider of trench boxes, road plates and engineering services, opens a new facility in Minnesota.
February
· Volvo Construction Equipment announces its revenue jumped 14.7 percent in fourth quarter of 2023, and 32.7 percent for the full year.
· Point of Rental Software, one of the leading global providers of rental management software, acquires rental inspection software expert Record360.
· BigRentz announces it surpasses 14,000 construction rental equipment supplier locations in the U.S.
· Cummins announces a 21.3-percent year-over-year net sales increase in 2023. Terex’s total net sales jumped 16.6 percent in 2023.
· Herc Rentals announces a fourth-quarter 2023 total revenue hike of 5.7 percent, with a 4-percent increase in rental revenue. Herc also acquires Quality Equipment Rentals, an Inglewood, Calif., company with more than 50 years in business.
· Herc Rentals acquires Aerial Work Platforms Inc. from Borgman Capital.
· Ohio’s Leppo Rents opens a new branch called Bobcat of Ocala-Leppo Rents, in Ocala, Fla.
· H&E Equipment Services reports a 14.9-percent year-over-year increase in rental revenue for the fourth quarter of 2023.
· Many manufacturers introduce multiple new products at The ARA Show in New Orleans.
· Herc continues its acquisition spree with MAC Equipment, a single-location rental company in Albany, N.Y.
· Thompson Pumps partners with Wagner Rents, the Cat Rental Store, making Wagner the exclusive distributor for Thompson Pump & Manufacturing’s dewatering and bypass pumps, equipment and services for all of Colorado, New Mexico and El Paso, Texas.
· Xylem jumps 33.4 percent in 2023 total revenue.
· Trackunit continues partnership with International Powered Access Federation, with digital solutions such as the ePAL app, which passed 500,000 downloads.
