10 recent equipment rental acquisitions

CP site huts at the Carlsberg Byen site in Copenhagen. (Photo: Zeppelin) CP site huts at the Carlsberg Byen site in Copenhagen. (Photo: Zeppelin)

Whether adding to specialty divisions or venturing into new regions, acquisitions play a pivotal role in driving growth, enhancing service offerings, and expanding market presence.

As industries evolve, strategic acquisitions enable companies to access new technologies, broaden their fleet, and meet diverse customer demands.

This year has witnessed several significant purchases made by equipment rental companies. With that in mind, here is a selection of equipment rental acquisitions in 2023, presented in no particular order.

10 recent equipment rental acquisitions

1. Zeppelin buys German renter

In July, Zeppelin boosted its Zeppelin Rental business with the acquisition of Bauhof Service GmbH, a Germany-based company that rents pumps and generators and provides logistical services for construction sites.

2. Norwegian acquisition for Renta Group

Renta Group has made several acquisitions this year, including the purchase of Norwegian general rental company Mylift. The acquisition added eight depots in Norway and NOK 360 million (€30 million) of annual revenue to Renta Group.

3. Loxam expands in Brazil

Loxam acquired not one, but two Brazillian rental companies this year, the most recent of which was temporary power generation specialist A Geradora Aluguel De Máquinas, a company with 15 branches in the country and 650 employees. 

4. Atlas Copco adds to specialty rental offering

Atlas Copco announced the purchase of Spain-based Climorent, a specialist rental provider of industrial cooling solutions, at the beginning of August. 

5. REIC makes North American movemove 

Rental Equipment Investment Corp (REIC) made two acquisitions in the space of ten days in June. The company purchased Colorado-based Aim High Equipment Rental and Canada-based oil and gas rental specialist Midstream Equipment.

6. Sweden specialist purchase for Boels
Image showing Cramo and Boels flags Boels owns Nordic renter Cramo. (Photo: Boels)

Another company expanding its specialty offering this year was Boels Group, which acquired KraftX AB, a specialist in power and backup power for industrial, construction and infrastructure sites. Following the acquisition, Kraft joined Boels’ subsidiary in Sweden, Cramo. 

7. Kennards acquires in Victoria

Australian rental firm Kennards Hire made its first move into regional Victoria when it bought Bendigo Hire in early August. Bendigo’s equipment fleet includes earthmoving equipment, garden power tools, scissor lifts and portable heating units.

Kiloutou makes rental acquisition in Germany. Helen and Ralf Uka (right), founders and managing directors of UKA+HAUKE Arbeitsbühnen, with Kiloutou’s managing director for Germany, Nils Altrogge. (Photo: Kiloutou)
8. Kiloutou expands in central Germany

Another acquisition to take place in August was that of German access rental company UKA+HAUKE Arbeitsbühnen, which was acquired by Kiloutou for an undisclosed fee.

The company employs 20 people, and runs a fleet of more than 275 aerial platforms and telehandlers.

9. United Rentals acquires Missouri general renter

United Rentals, which finished top of the IRN100, solidified its US presence with the acquisition of general rental company ChaseCo Rentals, just months after it purchased ABLE Equipment Rental.

10. Sime Darby buys major Australian rental company
Malaysia’s Sime Darby owns numerous Caterpillar dealerships in Asia Pacific, including Hastings Deering in Australia. (Photo: Hastings Deering) Malaysia’s Sime Darby owns numerous Caterpillar dealerships in Asia Pacific, including Hastings Deering in Australia. (Photo: Hastings Deering)

Malaysian industrial business Sime Darby purchased one of the largest rental company’s in Australia, Onsite Rental Group, in a A$635 million (€402 million) deal.

Onsite reported revenues of A$302.1 million (€191 million) in the year to 30 June 2022, employs around 500 people and has a network of 39 locations in the country.

It’s worth noting that Kiloutou, Boels, United Rentals, Loxam and Renta Group were also featured in our list of top rental acquisitions in 2022.

For the complete list, click here.

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Ollie Hodges Publisher Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
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