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Volvo Rents has acquired Great Plains Rent-All, a four-store equipment rental company based in Southern Oklahoma, with stores in Ada, Ardmore, Duncan and Durant.
The company says this latest move is part of the company’s recent surge of more than 50 acquisitions in the last 12 months and comes at a time when more customers are adopting the rental concept to meet their needs for equipment to complete projects and jobs.
“While some of the projected rental revenue growth will come from increased demand as the construction industry recovers, the benefits of renting equipment have been magnified in today’s marketplace,” said Michael Crouch, vice president of business development for Volvo Rents. “This shift from buying equipment to renting puts us in a favorable position as we continue to expand our footprint in various markets across the country.”
According to the latest data released by the American Rental Association, North American equipment rental industry revenue is expected to increase at least 6.9 percent in 2012 to total $33.5 billion at year end. The current five-year forecast calls for continued annual growth in rental revenue to reach a total of $53.1 billion by 2016.
In addition to Volvo Rents’ expanding line of Volvo compact equipment – such as backhoe and skid steer loaders, compact wheel loaders, compact excavators and compaction equipment – the rental centers carry a comprehensive line of essential equipment and tools for the construction, commercial, industrial and homeowner markets. The focus is on daily, weekly and monthly rentals.
”We have great admiration for the integrity of the Volvo Rents management team and their commitment to local decision-making,” Bill Clark, who founded Great Plains Rent-All with his brother Todd in 2001, said in a written statement. “The company’s culture of taking care of its employees and customers made becoming part of Volvo Rents an attractive and easy decision.”
Bill’s two sons, Will and Garrett, will stay on with Volvo Rents as general manager and key account manager, respectively.
Crouch emphasized the admiration as a mutual feeling. “They’re more than a first rate equipment operation,” he said of Great Plains Rent-All. “They’re good people who support a number of school, church, civic and charitable organizations with their time and finances.”