United Rentals Acquires Franklin Equipment
14 Abril 2021 - 3:30PM
Business Wire
United Rentals, Inc. (NYSE: URI) today announced that it has
acquired Franklin Equipment, LLC, a regional provider of equipment
rentals, sales and related services in the Midwest and Southeast
United States.
Franklin Equipment was founded in 2008, and grew to 20 locations
serving general contractors in Ohio, Indiana, Wisconsin, Kentucky,
Tennessee, Alabama, Georgia and South Carolina.
Matthew Flannery, president and chief executive officer of
United Rentals, said, “Today, we welcomed over 300 new members to
Team United with our acquisition of Franklin Equipment. This
transaction expands our presence in key markets for our general
rentals business, with an experienced team that shares our pride in
delivering superior customer service.”
Sullivan & Cromwell LLP acted as United Rentals’ legal
advisor in the transaction, and Lape Mansfield Nakasian &
Gibson, LLC acted as Franklin Equipment’s legal advisor.
About United Rentals
United Rentals, Inc. is the largest equipment rental company in
the world. The company has an integrated network of 1,154 rental
locations in North America and 11 in Europe. In North America, the
company operates in 49 states and every Canadian province. The
company’s approximately 18,250 employees serve construction and
industrial customers, utilities, municipalities, homeowners and
others. The company offers approximately 4,000 classes of equipment
for rent with a total original cost of $13.78 billion. United
Rentals is a member of the Standard & Poor’s 500 Index, the
Barron’s 400 Index and the Russell 3000 Index® and is headquartered
in Stamford, Conn. Additional information about United Rentals is
available at unitedrentals.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and the Private Securities Litigation Reform Act of
1995, known as the PSLRA. Forward-looking statements involve
significant risks and uncertainties that may cause actual results
to differ materially from those set forth in the statements. These
statements are based on current plans, estimates and projections,
and, therefore, you should not place undue reliance on them. No
forward-looking statement, including any statement concerning the
anticipated benefits of the proposed transaction, can be
guaranteed, and actual results may differ materially from those
projected. United Rentals undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events or otherwise. Forward-looking statements
are not historical facts, but rather are based on current
expectations, estimates, assumptions and projections about the
business and future financial results of the equipment rental
industries, and other legal, regulatory and economic developments.
We use words such as “anticipates,” “believes,” “plans,” “expects,”
“targets,” “projects,” “future,” “intends,” “may,” “will,”
“should,” “could,” “estimates,” “estimated,” “predicts,”
“potential,” “continue,” “guidance” and similar expressions to
identify these forward-looking statements that are intended to be
covered by the safe harbor provisions of the PSLRA. Actual results
could differ materially from the results contemplated by these
forward-looking statements due to a number of factors, including,
but not limited to, those described in the SEC reports filed by
United Rentals, as well as the possibility that (1) problems may
arise in successfully integrating the businesses of United Rentals
and Franklin Equipment, including, without limitation, problems
associated with the potential loss of any key employees of Franklin
Equipment; (2) we may incur unexpected costs, including, without
limitation, the exposure to any unrecorded liabilities or
unidentified issues that we fail to discover during the due
diligence investigation of Franklin Equipment, which will not be
subject to indemnification or reimbursement by Franklin Equipment,
as well as potential unfavorable accounting treatment and
unexpected increases in taxes; (3) we may fail to maintain
relationships with customers, employees and suppliers; or (4) the
industry may be subject to future risks that are described in the
“Risk Factors” section of our Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q and other documents filed from time
to time with the SEC. United Rentals gives no assurance that the
company will achieve its expectations and does not assume any
responsibility for the accuracy and completeness of the
forward-looking statements.
The foregoing list of factors is not exhaustive. You should
carefully consider the foregoing factors and the other risks and
uncertainties that affect the businesses of United Rentals
described in the “Risk Factors” section of our Annual Reports on
Form 10-K, Quarterly Reports on Form 10-Q and other documents filed
from time to time with the SEC. All forward-looking statements
included in this document are based upon information available to
United Rentals on the date hereof; and United Rentals assumes no
obligations to update or revise any such forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210414005880/en/
Ted Grace Office: (203) 618-7122 Cell: (203) 399-8951 Email:
tgrace@ur.com
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