United Rentals Acquires Industrial Power & HVAC Company
Greenwich, CT - Apr 27, 2011
United Rentals, Inc. (NYSE: URI) today announced the acquisition of assets of GulfStar Rental Solutions, LP, a three location power & HVAC equipment rental company located in Texas and Louisiana.
“The acquisition of GulfStar furthers our strategy of accelerating growth in the attractive power and HVAC segment as well as growing our industrial customer base,” said Paul McDonnell, senior vice president, trench safety, power and HVAC. “Our specialty rental business provides a competitive differentiator while opening the door for our general and aerial rental business in this attractive sector.”
GulfStar has branches in Beaumont and Deer Park, Texas and Kenner, Louisiana.
About United Rentals
United Rentals, Inc. is the largest equipment rental company in the world, with an integrated network of 530 rental locations in 48 states and 10 Canadian provinces. The company’s approximately 7,300 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 $3.85 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.
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 GulfStar’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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