United Rentals Acquires Blue Mountain Equipment Rental Corporation
Greenwich, CT - Dec 1, 2011
United Rentals, Inc. (NYSE:URI) today announced that it has acquired the assets of Blue Mountain Equipment Rental Corporation, a company with locations in Pennsylvania and West Virginia. Blue Mountain is almost exclusively focused on the industrial segment with a special concentration on oil and gas exploration in the Marcellus Shale region, the area of one of the largest natural gas discoveries in the United States.
"The Blue Mountain acquisition further deepens our position in the expanding energy sector," said Michael J. Kneeland, chief executive officer. "Like our three other acquisitions this year, Blue Mountain provides an attractive growth opportunity in a burgeoning segment. The management and employees of Blue Mountain bring industry expertise that will be valuable as well as a passion for outstanding customer service. We welcome them to the United Rentals family."
About United Rentals
United Rentals, Inc. is the largest equipment rental company in the world, with an integrated network of 541 rental locations in 48 states and 10 Canadian provinces. The company's approximately 7,500 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers for rent approximately 2,900 classes of equipment with a total original cost of $4.26 billion. United Rentals is a member of the Standard & Poor's MidCap 400 Index and the Russell 2000 Index® and is headquartered in Greenwich, Conn. Additional information about United Rentals is available at unitedrentals.com.
Forward Looking Statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of the transaction and other statements identified by words such as "may," "will," "intend," "estimate," "should," "expect" or similar expressions. These statements are based on the current expectations and beliefs of management, and are subject to uncertainty and changes in circumstances, including, but not limited to, our ability to timely and successfully integrate Blue Mountain's operations into our operations, and the parties' performance of their obligations under the purchase agreement. Acquisitions typically entail many risks including, among other things, unrecorded or undisclosed liabilities not subject to indemnification or reimbursement by the seller. Any forward-looking information is not a guarantee of future performance and actual results may vary materially from those expressed or implied by the statements herein, due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, as well as factors affecting our combined operations and businesses.
For a more complete description of these and other possible risks and uncertainties as such risks and uncertainties relate to United Rentals, please refer to our Annual Report on Form 10-K for the year ended December 31, 2010, as well as to our subsequent filings with the SEC. Our forward-looking statements contained herein speak only as of the date hereof, and we make no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations.
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