Sunbelt Rentals has bought Pride Equipment Corporation in a move to grow its position in the New York City market.
Pride Equipment, based in Islip, New York, has been in operation for 47 years and primarily serves as a provider of aerial rental equipment.
“Pride’s focus on aerial equipment is complementary to Sunbelt’s capabilities in a broader range of smaller and medium size equipment and there will be significant opportunities to cross-sell to the enlarged customer base,” says Geoff Drabble, CEO of Ashtead Group, Sunbelt’s parent company.
“This acquisition is consistent with our long-term strategy to take advantage of structural growth opportunities through both organic investment and bolt-on acquisitions,” Drabble adds. “I would also like to welcome all of the Pride employees who will be joining Sunbelt as part of the acquisition and look forward to working with them to deliver on the major opportunities ahead.”
Details of the purchase, which was advised by TM Capital, have not been disclosed.