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710RER08 90s.indd - Rental Equipment Register

Aug. ’93Klaus Wacker, president of Wacker Corp. dies of cancerat age 51. Wacker was the fifth generation of the Wackerfamily to play a major role in the construction manufacturingcompany. Wacker worked his way up in the company,becoming president in 1977.1992The 1992 Los Angeles riots, ignited after the not-guiltyverdict came down for the four police officers accusedof beating Rodney King, didn’t spare South-Central LArental centers. Central Rentalsis destroyed by fire andlooting despite thebest efforts of itsowner Tony Lyons(pictured)to protect therental yard’90swith a gunfrom the roofof the building.Customerswere stillcoming in torent generatorsand other equipment,even while thefire was raging.March ’92Rental pioneer K.D. Sampson dies at the age of 85. Sampsonentered the Phoenix rental industry with a handmadetrailer in 1946. Changed the company name from SampsonEquipment Rentals to Rental City when it reachedfour branches.Nov. ’92A new study co-sponsored by Associated Equipment Distributorsindicates a dramatic upswing in constructionindustry rentals over the past 10 years. The Rental 2000study, conducted by Chicago-based Manfredi & Associates,shows that the number of businesses renting constructionequipment has nearly tripled since 1982. Manfredi’s studyindicates that estimated annual rental revenue for thosefirms has increased nearly five-fold during that period, from$240,000 to $1.1 million.June ’93Acme Group acquires Rental Service Co., ranked No. 72 onthe RER 100.1993Versatility of the backhoe loader has catapulted it to themost popular piece of construction equipment in NorthAmerica. According to Construction Equipment magazine,in 1993, there were an estimated 221,000 backhoeloaders at work in North America — more than any typeof construction machine. The magazine estimated that25- to 35-percent of backhoe loaders in the United Statesare first used in a rental fleet. Rental centers are becomingmore attuned to the benefits and versatility that attachmentscan add to these machines.Dec. ’93Burch-Lowe, No. 60 on the 1993 RER 100, acquires ConleyGa.-based Trico Equipment Co., which has two branchesin Albany and Savannah, Ga., in an effort to have rentalcenters operating in all of the markets in Georgia with apopulation greater than 100,000.1993Tom Hanks wins two consecutive Academy Awardsfor Best Actor in 1993 and 1994 for his performancesin Philadelphia and Forrest Gump.Jan. ’94Rescoe Rents, then ranked No. 27 on the RER 100, opensa new division called Resco Power that specializes in rentingtemporary electrical power and climate systems. Thereis a growing need for temporary power solutions — constructionsites, sporting events, concerts, carnivals.Jan. ’94Devastating Southern California earthquake helps spurrental business in the recession-plagued region.Feb. ’94The 38th annual Rental Show is held in Miami Beach,Fla., despite an avalanche of negative media reports concerningattacks on tourists in the Miami area in the prioryear. Exhibitors report increased buying from the thirdlargestcrowd in the show’s history.May ’94RER 100 shows signs of recovery after a period of recession.The survey reveals an all-time high volume of$1.7 billion, and many companies say they are more prof-rer / october / 2007 61


July ’96Past ARA president and industry veteran Skip Evans and hispartner Larry Davidson sell Zodiac Rentals to investmentcompany Bace Industries, which plans to acquire a slew ofmedium-sized rental centers throughout the U.S. to create anational rental power, which it calls RentX Industries.Just one month later, Rent X Industries acquires A to ZRentals & Sales in Spokane, Wash., and in Sept. acquiresE-Z Way Rentals, a five-location general tool rental companyin Eagle, Colo.July ’96Chicago venture capital firm Golder, Thoma, Cressey,Rauner Inc. acquires the funding to begin a series ofacquisitions of rental companies and forms a purchasechain called National Equipment Services. Kevin Rodgers,former president and CEO of Brambles EquipmentServices, partners with the firm and is named presidentand CEO of NES.July ’96Jerry Losey (pictured), ownerof Albuquerque, N.M.-basedZuni Rentals, dies in a planecrash over Colorado. Loseyovercame a life-long fear of flyingand learned to pilot his ownplane. Zuni Rentals is acquiredby Denver-based Center Rentals& Sales in Oct.Sept. ’96Scottsdale, Ariz.-based RentalService Corp. goes public withan IPO of 5 million shares. The company raises $88 millionby selling 5½ million shares at $16 a piece. By mid-Oct., the stock is trading in the $23 to $25 range.Sept. ’96NES acquires Industrial Crane Maintenance Systems inBrazoria, Texas. It is the first of a number of acquisitionsby NES, which has more than $150 million to invest increating a national chain of rental companies. In Feb.and March ’97, NES acquires Atlanta-based high-reachspecialist Aerial Platforms and Houston-based LoneStar Rentals.Jan. ’97Sunbelt Rentals embarks on massive expansion plan todouble its number of rental outlets in the mid-Atlanticand Southeast United States.Feb. ’97U.S. Rentals acquires ABC Tool & Equipment Rentals,El Paso, Texas, and is making plans to go public, makingit the third major equipment rental company to do sosince Sept.In April, U.S. Rentals IPO raises $200 million, thelargest amount of any of the four rental companies thathave recently gone public. The company sells 10 millionshares at $20 a piece.March ’97Sam’s U-Rent, one of the rental industry’s oldest companiesfounded in 1935 by Sam Greenberg, sells its assets toAble Equipment Rental, Buena Park, Calif.1997The DVD (digital video/versatile disc) is introducedin Nov. 1995, and backed by major players in theCE, IT and movie industries. The first DVD playersappear in Japan in Nov. 1996, followed by the U.S.in March 1997.May ’97Just two years aftertopping $2 billion,the RER 100 tops$3 billion, markingthe thirdc o n s e c u t i v eyear the list hasgrown by at least20 percent.’90sJune ’97Atlas Copcoagrees to buy PrimeEquipment, No. 4 onthe RER 100, for about$1.16 billion in cash and assumeddebt — the largest acquisition deal in the rental industryto date.July ’97Miami-based Neff Corp. agrees to purchase BucknerRental Service, Houma, La., No. 21 on the RER 100.The acquisition, terms of which were not disclosed,gives Neff a significant presence in the Gulf of Mexicowith expertise in the oil and gas, industrial and petrochemicalindustries.July ’97Omniquip International agrees to acquire St. Joseph, Mo.-based Snorkel from Figgie International in a transactionvalued at $120 million.Oct. ’97Greenwich, Conn.-based United Rentals bursts ontothe scene when eight former United Waste Systems66 rer / october / 2007


executives, led by CEO BradJacobs (pictured), announceplans to use $110 million ininitial capital to build a nationalrental presence throughacquisition of medium-sizedcompanies. Among its firstacquisitions are A&A ToolRentals & Sales in Stockton,Calif., and Mercer Equipmentin Charlotte, N.C.Nov. ’97Scottsdale, Ariz.-basedRSC signs a letter ofintent to acquire CenterRental & Sales for$129.6 million in cash,RSC stock and assumptionof Center’s debt. Atthe 11th hour, RSC camein with a higher bid than theoffer on the table from HertzEquipmentRental Corp.’90sCelebrating 50 YearsWithMagazine!THETHERREVOLUTIONHas Begun...Nov. ’97Wayne Huizenga, current ownerof the Miami Dolphins and Blockbusterfounder, has a 50-percentstake in newly formed NationsRents, which aims to acquire asmany as 60 outlets via buyouts inthe next 12 months.Dec. ’97United Rentals raises $94.5 millionin its initial public offering.Net proceeds from the IPO will beused to repay $31 million of debtand to fund future acquisitions.The new Summit Series Lifts...Redefining thetowable boom market. This full line ofhigh quality boom lifts will clearlygive you the competitiveedge.● Best-in-class specifications● Greater platform height● Larger working envelope● Exceptional outreach● Superior leveling capability● Easy-to-use controls● Faster machine setupWith 4 new models to choose from in heightsto 61’ (18.6m) and outreach to 33’ (10m),these lifts provide the best value in theindustry and will raise your bottom line to newheights.125 Taylor Parkway Archbold, OH 43502-9309 ● 800-537-0540 ● www.biljax.comAndOf ManufacturingExcellenceMADE IN THEU.S.ADec. ’97Prime Equipment enters into anagreement to purchase RescoRents, No. 29 on the RER 100. Rescohas 16 outlets in 8 states. Termsof the deal were not disclosed.Jan. ’98Komatsu America InternationalCorp. launches aggressive planto put all of its nearly 50 NorthAmerican dealers into the rentto-rentbusiness. The companyacquires three of its independentdealerships, including Salt LakeCity-based Rocky Mountain Machinery,Pioneer Machinery, Reno,Nev., and Furnival/State MachineryCo., Hatfield, Pa. The companyalso forms Komatsu UtilityCorp. to put emphasis on its lineof compact equipment products.Archbold, OH • 800.537.0540 • www.biljax.comJan. ’98Home Depot announces a majorexpansion of its equipmentrental program, beginning in 45stores in up to eight markets in1998, followed by an additional68 rer / october / 2007


100 rental departments in 1999 and as many as 800 thefollowing year.Jan. ’98Caterpillar announces plans to enter the compact constructionequipment market, including compact wheelloaders, mini-excavators and skid-steer loaders.March ’98Caterpillar’s North American Commercial Division announcesits intentions to step up its rental program, projectingthat 54 of its 72 North Americandealers will have dedicated rentaldivisions by the end of the year.company debuts at No. 6 on the RER 100.1998The last episode of Seinfeld appears on May 14,1998 after running a total of 9 seasons on NBC andwinning 10 Emmy Awards.1998•In the largest merger deal in therental industry to date, United Rentalsagrees to acquire U.S. Rentals for$1.24 billion in stock. The deal givesUnited Rentals 296 rental locationsin 33 states, Canada and Mexico.United Rentals also acquires AccessRentals, Batavia, N.Y., No. 24 on theRER 100; Kitchener, Ontario-basedBNR Equipment, No. 61; and sixlocationAble Equipment Rentals,Buena Park, Calif., No. 59 on theRER 100.•NES signs definitive purchaseagreements to acquire seven-locationAlbany Ladder, No. 56 on theRER 100; eight-location CormierEquipment Corp., No. 59; and inMay agrees to acquire Paducah, Ky.-based Falconite Inc., a 27-locationrental company and No. 16 on theRER 100.•HERC buys Toronto-based aerialspecialist Matthews Equipment,No. 72 on the RER 100.April ’98United Rentals raises $191.7 millionin secondary public stockoffering. InMay, the3522A4527A5533ARedefining the towable boom marketby offering best-in-class specifications,superior features, and greaterperformance, this full line of highquality boom lifts will clearly give youthe competitive edge.● Greater platform height● Larger working envelope● Exceptional outreach● Superior leveling capability● Easy-to-use controls● Faster machine setupWith 5 new models to choose fromin heights to 61 ft (18.8m) theselifts provide the best value in theindustry and will raise your bottomline to new heights.’90sWEB:www.biljax.comPHONE:800.537.0540Circle 18 on Reply Card • freeproductinfo.net/rerrer / october / 2007 69


April ’98Neff and NES file registration statements with the SECfor initial public offerings of their common stock. Neffraises $94 million with its IPO, about $31 million lessthan it hoped to raise. NES, which originally expected togross proceeds of about $250 million to fund the acquisitionof Falconite and then scaled back the IPO, raisedjust $94.5 million.May ’98President and CEO of RentX Arnie Bernstein, and actingchief operating officer/western regional manager HotchManning resign from the company to pursue other interests.Brad Sharp takes over as interim president andCEO, and Skip Evans, who’s Zodiac Rentals was the firstcompany acquired by RentX when it formed in 1996,takes office as interim chief operating officer.June ’98HERC accelerates its acquisition push by acquiringNorthern California-based Big 4 Rents, No. 15 on theRER 100 with 11 locations.June ’98NationsRent raises $104 million in its initial public offering,selling 13 million shares for $8 each, well below itsinitial price range of $10 to $12 a share.’90sAug. ’98Prime Equipmentsigns letter of intentto acquireeight-locationindustrial specialistClementina,No. 25 onthe RER 100.Aug. ’98Mirroring theconsolidation in therental industry, highreachequipment specialistsbegin to roll up. Terexbuys Wilmington, N.C.-based American Crane Corp.Sept. ’98United Rentals reaches definitive agreements to acquireRental Tools & Equipment, No. 17 on the RER 100, andMcClinch Inc.Sept. ’98RSC acquires 52-year-old aerial specialist M.J. Struckel,No. 87 on the RER 100, for about $21.2 million in cashand assumed debt. The company also makes its first acquisitionsoutside the United States, with the purchase offive-location Fasco Rentals, based in Alberta, Canada.Sept. ’98NationsRent signs a definitive agreement to merge with13-location A-1 Rental, naming A-1 owner Don O’Nealpresident of NationsRent.Nov. ’98NES acquires aerial work platform and crane rental specialistShaughnessy Crane Services, No. 58 on the RER 100,and expands NES’ presence in the New England market.Nov. ’98United Rentals acquires server and software developerWynne Systems.1998Mark McGwire, St. Louis Cardinals, hits record 70homeruns in 1998. Sammy Sosa of the ChicagoCubs hits 66.Jan. ’99Affiliates of New York-based private investment firmApollo Management L.P. acquire about 15 percent ownershipof United Rentals with the purchase of $300 millionof preferred stock.1998 acquisition summary: The 20 largest acquisitionsof equipment rental companies in ’98 involved almost300 locations and more than $1.4 billion in revenue — morethan the combined revenue of all companies acquired in1997, according to the RER Consolidation Report.In all, more than 210 companies sold to industry consolidatorsin ’98, and more than $2.6 billion in total revenues,including $1.6 billion in rental volume, changedhands — double that of ’97.Jan. ’99RSC and NationsRent agree to merge, which would createthe second billion-dollar rental company in the industry.The stock-for-stock transaction is valued at about$366 million.In April, RSC rejects a $1.36-billion hostile takeoverbid by United Rentals, as both companies continue to viefor control of the industry’s third-largest rental company— NationsRent.In May, RSC and NationsRent terminate their mergeragreement. RSC will pay NationsRent a $6 million settlement,clearing the way for other companies to pursue adeal with the company.May ’99Caterpillar announces plans to increase the number ofdealer-owned The Cat Rental Store locations by 50 percentin 2000, increasing the number of Cat dealer-operatedrental centers from 200 to 300. The company also saysrer / october / 2007 71


’90sit will add 100 rentallocations eachin Europe andLatin America.May ’99NES acquires twomore companiesthat specialize in traffic-controlequipment,making it a major playerin the burgeoning trafficcontrolequipment rental sector.May ’99Investment bank Brown Brothers Harriman & Co. agreesto pay $100 million to acquire slightly less than 25 percentof NES, No. 7 on the RER 100.May ’99JLG signs a definitive agreement to buy Gradall Industriesfor $200 million in cash. The deal gives JLG accessto the material handler and excavator markets, creating adiversified capital equipment group with combined revenuesof $800 million.June ’99New Holland agrees to acquire Case Corp. for $4.3 billionin cash, a deal that makes the combined company thethird-largest construction equipment manufacturer.July ’99Atlas Copco offers $1.63 billion for RSC, which rejected inApril, the $1.36-billion takeover bid by United Rentals.July ’99Meyer International PLC, parent of the United Kingdom’slargest building material supplier and one of itslargest rental operations, agrees to buy RentX Industriesfor $98.7 million in cash and assumed debt. No. 16 on theRER 100, RentX formed in 1996 and has 72 outlets.July ’99Bruckman, Rosser, Sherrill & Co., a private equity firmthat recently bought ICM Equipment Co., announcesplans to acquire Baton Rouge, La.-based Head &Engquist Equipment and merge the two companies.July ’99GE Power Systems creates a new business unit called GEEnergy Rentals to rent generators and temperature-controlsystems and to provide related maintenance, installationand logistical services.Aug. ’99United Rentals adds three major players to its roster of recentlyacquired rental companies — Elmen Enterprises,No. 14 on the RER 100, Udelson Equipment, No. 30, andBurbank, Calif.-based Wanamaker Rents, No. 98.Elmen brings 47 locations to United, which plans touse the acquisition as a platform to expand in the Midwest.Udelson, a major Terex dealer, has locations in Houston andFort Worth, Texas; Miami and Orlando, Fla.; and Cleveland.Industry pioneer Jack Wanamaker also sells his Inglewood,Calif.-based A C Equipment Rentals outlet to United.Sept. ’99United Rentals acquires 19 companies in its latest wave ofrental acquisitions. Among them, aerial specialist ThomasEquipment, No. 31 on the RER 100, Coble Equipment &Rentals, No. 76, and six traffic safety equipment companieswith about $110 million in combined annual revenue from43 locations. These latest acquisitions make United Rentalsthe largest provider of traffic safety rental services.Sept. ’99A longtime fixture in the southern Ontario homeownerand small contractor rental market, Stephenson’s Rent-All acquires six Canadian rental companies, establishingitself as a national player.The company also announces plans to further develop itsrental departments in Revy’s home improvement centers.Nov. ’99NationsRent acquires Contractors’ Equipment Corp.,one of the largest remaining independently owned rentalcompanies in the United States. The acquisition of12-location CEC gives NationsRent a strong presence inSouthern California. CEC is No. 32 on the RER 100.Nov. ’99GE Energy Rentals emerges as a major industry playerin the power rental market, previously dominated by Aggrekoand Caterpillar. Up and running in 8 major markets,its rental business is valued at about $4 billion bysome studies.Dec. ’99Neff Corp. signs a definitive agreement to sell Neff Machinery,its construction dealership unit, to Nortrax, anewly formed joint venture between Deere and CreditSuisse Group in a deal valued at $91 million.Dec. ’99Not to be left out, Sunbelt Rentals agrees to acquire19 U.S. branches with aggregate revenues of about$30 million. The company is aiming to reach 100 profitcenters by its year-end.Dec. ’99Cummins launches Cummins Power Rent with plans torent generators between 750 kw and 1,500 kw throughup to 31 distributors throughout the U.S. Smaller generatorsfrom 60 to 250 kw will be available through about150 rental dealers, the company says.74 rer / october / 2007

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