Volvo Rents to be renamed by Platinum

Volvo Rents is to be given a new name and image by Platinum Equity, the private equity firm that has just completed the acquisition of the rental company from Volvo.

Platinum said a Volvo Rents team, including Platinum employees, is working on a rebranding initiative and that a new name and image “is expected to be announced soon.”

Louis Samson, the Platinum Equity partner who led the transaction, said; “We have a lot of experience owning and operating equipment rental businesses and will work with the management team to help the business grow both organically and through prospective complementary add-on acquisitions."

Platimum, which announced the €800 million acquisition of Volvo Rents in early December, specialises in the merger, acquisition and operation of companies in information technology, telecommunications, logistics, metals services, manufacturing and distribution. It owns US crane rental company Maxim Crane.