Tag: Neff Corporation

Dealers

United Rentals reports 25% leap in revenue in Q1

Reflecting strong industry growth and acquisitions, United Rentals is reporting a 25.1 percent jump in rental revenue for the first quarter of 2018, compared to a year ago. Total revenue was $1.734 billion and rental revenue was $1.459 billion for the first quarter for the rental giant. That’s compared to $1.356 billion and $1.166 billion, […]

April 20, 2018

Dealers

Following Neff rejection H&E Equipment Services offers notes with eye toward acquisitions

H&E Equipment Services, who earlier this year made an offer for Neff Corporation that was superseded by a higher bid from United Rentals, announced that it will be offering $200 million in aggregate principal amount of its 5.625-percent Senior Notes due in 2025. In making the announcement, H&E said the proceeds from the new notes […]

November 21, 2017

Dealers

Business Roundup: ALLU adds new facility; Construction planning continues slide; Subs sought for hurricane cleanup; Construction adds jobs

Construction adds 8,000 jobs in September The construction industry added 8,000 jobs during September bringing total industry employment to 6.911 million Americans, according to preliminary data from the Labor Department. Read more.   ALLU adds capacity with new facility in East Brunswick, N.J. ALLU has opened a new facility in East Brunswick, New Jersey, to give […]

October 10, 2017

Dealers

United Rentals finalizes purchase of Neff for $1.3 billion

United Rentals completed its acquisition of Neff Corporation on October 2 for a total purchase price of $1.3 billion. This marks the second major acquisition by United Rentals this year. In April it completed a $965 million purchase of NES Rentals Holdings. Then, a week after its announcement in August it would purchase Neff, United […]

October 5, 2017

Home

Profits expected to rise for United Rentals following Harvey

United Rentals could see a 1 percent boost in profit this year because of short-term rental increases in the aftermath of Harvey, according to a CNBC report. The rental company made $60 million in rentals for disaster recovery immediately following the storm, the report said, citing a Jefferies Group analysis. Rental equipment demand includes water […]

September 12, 2017

Dealers

Business Roundup: United buys Cummins power equipment assets; Barko adds Crosby Equipment; H&E opens Durham branch; Prinoth adds CG Equipment; Mont. rental equipment embezzlement

United Rentals buys power equipment assets from Cummins Following the recent announcement its plans to purchase of Neff Corporation, United Rentals says it has bought power equipment assets from Cummins, with service and equipment available immediately. The purchase gives the company Cummins’ mobile rental generator fleet made up of equipment with output ranging from 150 Kilowatts […]

September 5, 2017

Dealers

United Rentals to buy Neff Corporation for $1.32 billion

United Rentals has agreed to purchase Neff Corporation for $25 per share in cash, or $1.317 billion, and expects to close on the acquisition in the fourth quarter this year. The announcement follows the end of an agreement between Neff and H&E Equipment Services, which the former dissolved as a result of the more lucrative […]

August 17, 2017

Dealers

Neff, H&E walk away from acquisition following higher offer

Update: On Thursday, United Rentals announced that it would buy Neff in a $1.32 billion deal. H&E Equipment Service’s purchase of Neff Corporation announced in mid-July has ended, following the announcement of a more lucrative offer from another bidder. The new bidder has offered to purchase Neff for $25.00 per share, a substantial increase over the […]

August 16, 2017

Dealers

H&E Equipment to buy Neff for $1.2 billion

H&E Equipment Services is buying equipment rental company Neff Corporation for roughly $1.2 billion in a merger move that will almost double the amount of branches for H&E. As part of the purchase, H&E will pay $21.07 per share of Neff common stock and includes approximately $690 million of net debt. Officials expect to close […]

July 18, 2017