{"id":841298,"date":"2022-12-09T06:04:40","date_gmt":"2022-12-09T05:04:40","guid":{"rendered":"https:\/\/bebeez.it\/non-categorizzato\/united-rentals-completes-acquisition-of-ahern-rentals\/"},"modified":"2022-12-09T06:04:40","modified_gmt":"2022-12-09T05:04:40","slug":"united-rentals-completes-acquisition-of-ahern-rentals","status":"publish","type":"post","link":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/united-rentals-completes-acquisition-of-ahern-rentals\/","title":{"rendered":"United Rentals Completes Acquisition of Ahern Rentals"},"content":{"rendered":"

STAMFORD, Conn.–(BUSINESS WIRE)–United Rentals, Inc. (NYSE: URI) today announced that it has completed its previously announced acquisition of the assets of Ahern Rentals, Inc. for approximately $2.0 billion in cash. The transaction and related expenses were funded through a combination of newly issued senior secured notes and existing capacity under the company\u2019s ABL facility.\n<\/p>\n

\nThe transaction adds approximately 2,100 employees, 60,000 rental assets and 106 locations to United Rentals in the United States, and makes the company\u2019s specialty rental solutions available to thousands of new construction and industrial customers.\n<\/p>\n

\nMatthew Flannery, chief executive officer of United Rentals, said, \u201cToday we completed the Ahern acquisition on schedule and welcomed over two thousand colleagues to Team United. The integration is off to a strong start, giving us significantly more capacity to serve our expanded customer base. This transaction strengthens our positioning for the robust demand we expect in 2023, while also aligning with our longer-term strategy to \u2018grow the core\u2019 to drive greater shareholder value.\u201d\n<\/p>\n

\nThe company will issue its 2023 guidance in January, reflecting a full year of beneficial impact from the combination.\n<\/p>\n

\nAbout United Rentals\n<\/p>\n

\nUnited Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,449 rental locations in North America, 13 in Europe, 27 in Australia and 19 in New Zealand. In North America, the company operates in 49 states and every Canadian province. The company\u2019s approximately 24,700 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers approximately 4,700 classes of equipment for rent with a total original cost of $19.3 billion. United Rentals is a member of the Standard & Poor\u2019s 500 Index, the Barron\u2019s 400 Index and the Russell 3000 Index\u00ae and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com<\/a>.\n<\/p>\n

\nCautionary Statement Regarding Forward-Looking Statements\n<\/p>\n

\nThis press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. Forward-looking statements involve significant risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These statements are based on current plans, estimates and projections, and, therefore, you should not place undue reliance on them. No forward-looking statement, including any such statement concerning the completion and anticipated benefits of the proposed transaction, can be guaranteed, and actual results may differ materially from those projected. United Rentals undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about the business and future financial results of the equipment rental industry, and other legal, regulatory and economic developments. We use words such as \u201canticipates,\u201d \u201cbelieves,\u201d \u201cplans,\u201d \u201cexpects,\u201d \u201cprojects,\u201d \u201cfuture,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cguidance\u201d and similar expressions to identify these forward-looking statements that are intended to be covered by the safe harbor provisions of the PSLRA. Actual results could differ materially from the results contemplated by these forward-looking statements due to a number of factors, including, but not limited to, those described in the SEC reports filed by United Rentals, as well as (1) problems that may arise in successfully integrating the businesses of United Rentals and Ahern Rentals, including, without limitation, problems associated with the potential loss of any key employees of Ahern Rentals; (2) the transaction may involve unexpected costs, including, without limitation, the exposure to any unrecorded liabilities or unidentified issues that we failed to discover during the due diligence investigation of Ahern Rentals or that are not covered by insurance, as well as potential unfavorable accounting treatment and unexpected increases in taxes; (3) any adverse effects on our ability to maintain relationships with customers, employees and suppliers, or the inherent risk associated with entering a geographic area or line of business in which we have no or limited experience; and (4) the industry may be subject to future risks that are described in the \u201cRisk Factors\u201d section of the Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC by United Rentals. United Rentals gives no assurance that it will achieve its expectations and does not assume any responsibility for the accuracy and completeness of the forward-looking statements.\n<\/p>\n

\nThe foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect the businesses of United Rentals described in the \u201cRisk Factors\u201d section of the Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC. All forward-looking statements included in this document are based upon information available to United Rentals on the date hereof; and United Rentals assumes no obligations to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.\n<\/p>\n

Contacts <\/p>\n

\nTed Grace
\n
Chief Financial Officer
\n
O: (203) 618-7122
\n
C: (203) 399-8951
\n
tgrace@ur.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

STAMFORD, Conn.–(BUSINESS WIRE)–United Rentals, Inc. (NYSE: URI) today announced that it has completed its previously announced acquisition of the assets of Ahern Rentals, Inc. for approximately $2.0 billion in cash. The transaction and related expenses were funded through a combination of newly issued senior secured notes and existing capacity under the company\u2019s ABL facility. 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