‘Yellow line’ now almost a fifth of Mills business

Brazilian rental company Mills generated more than 18% of its revenues from earthmoving equipment and truck rental in the second quarter of 2025, reflecting the company strategy to diversify beyond the aerial platforms and telehandlers that make up more than 60% of its revenues.

Mills said its heavy equipment division saw an expansion in contracts in more resilient sectors, which drove “significant growth in rental revenue during the period”. That also translated into EBITDA margin expansion, said the company.

It added that earthmoving equipment is “a still fragmented market with significant market share opportunities”.

The company reported sales for the quarter up 21.6% year-on-year to R$450.1 million (€71.4 million), with EBITDA profits 25.7% higher at R$227.2 million (€36 million).

Meanwhile, the company announced in July that it had acquired Next Rental, a subsidiary of Grupo Pesa, a Caterpillar dealership in southern Brazil. That deal closed on 14 August.

Next rents earthmoving equipment, trucks, forklifts, generators and aerial platforms, and is present in more than 14 states. The acquisition includes 738 items of equipment.

Mills said the deal “strengthens our inorganic expansion into low-penetration segments such as forestry and mining and deepens our reach in southern Brazil.

“By incorporating high-quality assets and relationships with major players in the economy, we further consolidate our leadership in the rental market and our position as the leading strategic partner.”

The deal will also give Mills new technologies, including Loadscan, a load scanning system that optimises material transport in mining and logistics, and 3D implement control systems, which improve precision in earthmoving, leveling, and agricultural operations.

Mills expands in southern Brazil Next Rental Locações is the next acquistion for Brazil’s largest rental company