United Rentals to acquire Ontario Laser in Canada
| August 16, 2011 |
United Rentals of Canada, Inc., a wholly-owned subsidiary of United Rentals, Inc., entered into a definitive purchase agreement to acquire the business and substantially all of the assets of Ontario Laser Rentals Ltd., which rents trench safety equipment in Ontario.
Completion of the acquisition is subject to the satisfaction or waiver of certain conditions contained in the agreement.
Ontario Laser, with two locations in Ontario, has operated for about 40 years and recently expanded to Montreal. The company rents a wide range of trench safety systems and heavy equipment related to underground construction, including excavators, slide rails, trench boxes and road plates.
“The acquisition of Ontario Laser is an important expansion of our trench safety leadership position in North America,” Paul McDonnell, senior vice president, United Rentals Trench Safety, Power & HVAC, said. “Ontario Laser is an excellent strategic fit for us, both in terms of its market base and its alignment with our cooperative approach to customer service.”