Consolidation Trends in Rental Companies: A Global Overview

The global trend of consolidation among rental companies has been evident in recent reports, with several major developments taking place during the week of July 11-17, 2024.

In the US, H&E Rentals (formerly H&E Equipment Services) made a significant move by opening a new greenfield branch in Idaho Falls, marking its third general rental equipment location in the state of Idaho. The depot in Ammon offers a wide range of construction and industrial equipment for rent, including aerial lifts, earthmoving machinery, telescopic forklifts, and compaction equipment. Branch manager Josh Criddle highlighted the strategic positioning of the branch to enhance customer service across multiple states.

In Europe, PartnerLift expanded its rental network by welcoming SIM-Tec into its cooperative of rental companies in Rhineland-Palatinate, Germany. SIM-Tec, with over 100 machines in its rental fleet, offers a diverse range of equipment from small scissors to truck ramps. The partnership with PartnerLift is expected to provide networking opportunities and industry exchange benefits for SIM-Tec.

Meanwhile, in Italy, Venpa, the parent company of GV3, acquired lifting specialist LocaTop to strengthen its presence in the market. Venpa, headquartered in Dolo, Venice, added LocaTop’s fleet of 1,600 units to its existing lineup of over 4,000 units. LocaTop, known for its focus on lifting equipment such as platforms and truck cranes, operates across Emilia-Romagna and Lombardy with 16 branches and more than 100 employees.

Additionally, Storent Group announced the opening of a new depot in Lithuania as part of its strategic expansion plan in the Baltic region. The Vilnius-based depot will serve the Northern territory of the city, complementing the company’s existing presence in Lithuania, which is its third largest market with annual revenues of around €10 million.

In other notable news, Sunbelt Rentals UK and Ireland secured a multi-year preferred supplier agreement with Mitie, a leading facilities management company in the UK. The agreement, effective from May 1, 2024, designates Sunbelt as the preferred rental supplier for Mitie across all its operations, emphasizing Sunbelt’s commitment to the facilities management sector and its growth strategy.

These developments underscore the ongoing trend of consolidation in the rental industry, with companies expanding their footprints and forming strategic partnerships to better serve customers and enhance their market positions.