December 10, 2022

Bobbys Brane

Bobbys Brane – Business & Tech Blog

United Rentals to acquire Ahern Rentals for $2 billion By Reuters

1 min read

© Reuters.

(Reuters) -United Rentals Inc said on Monday it will acquire the assets of smaller rival Ahern Rentals Inc in an all-cash deal for about $2 billion, as the equipment rental firm looks to expand its U.S. presence.

It expects to fund the deal with a mix of newly issued debt and existing capacity under its Asset-Based Loan (ABL) facility.

Ahern Rentals, founded in 1953, is a family-owned equipment rental firm with about 2,100 employees across 106 locations in 30 U.S. states.

The deal is expected to close before the end of this year, United said.