Sunbelt buys Topp and Precision

By Maria Hadlow03 April 2012

Sunbelt, the American subsidiary of the Ashtead Group, has acquired Topp Construction Services Inc and its related company, Precision Steel Works, LLC for $33.5million, which was paid in cash.

Topp, based in Philadelphia with 15 other branches located in or near key population centres across the US, is a specialist rental provider of portable air conditioning, heating and dehumidification equipment. Precision runs a small assembly and manufacturing facility in support of Topp's business.

In the year to 31 December 2011, on a combined basis, Topp and Precision reported pre-tax profits of $4.5m and combined gross assets of $10.5m.

Geoff Drabble, chief executive said, "We are delighted to conclude this acquisition in line with our long term strategy of developing high value added speciality businesses which broaden our product offering and the markets we serve"

Topp and Precision were acquired from their owner, Daniel Topp, who has agreed to act in a consultancy capacity to Sunbelt to assist in the post acquisition transition.

Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Sinoboom agrees TVH deal
Deal will see parts and service supplied to all Sinoboom’s geographical operations.
United to debut tool-tracking utility trucks
United Rentals will unveil its “Truck of the Future” at The Utility Expo in Louisville later this month, plus hear educational sessions and more
Case launches three ‘kings’ onto backhoe loader market
New SV series features expanded cab, plus productivity and emissions benefits
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail:
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: