Venetor buy-out to expand United Rentals Canadian base
20 April 2011US equipment hire firm United Rentals is expanding its reach in Canada with the purchase of Ontario’s largest independent rental firm, Venetor Group. The deal will add a range of mobile cranes to United Rentals business, an area that the company has not previously covered.
It is expected that the deal, which adds seven new rental locations to the existing 531 United Rentals sites across the US and Canada, will be finalised once the remaining unsatisfied terms of the definitive purchase agreement have been met.
A family-owned business since 1975, the Venetor Group provides rental, transportation and service support for a selection of all-terrain, rough terrain, boom trucks and truck cranes with lifting capacities from 8USt to 550USt.
Venetor’s previous owners will also be joining the United Rentals management team to ease the transition and continue to develop the business.
United Rentals CEO Michael Kneeland said: “Upon completion, the acquisition of Venetor Group will significantly expand our position in central Canada, a marketplace with attractive growth dynamics.
"We are particularly delighted that Alvi Beraldo, Tom Beraldo and Dennis Beraldo, will bring their decades of experience to United Rentals, and continue to play an active role in growing the business.
"Venetor's commitment to superior service and its focus on industrial customers complements our own strategy and customer focus.”
