March 20, 2014: United Rentals to Acquire National Pump
With This Acquisition, United Rentals Enters the Pump Rental Segment
STAMFORD, Conn., and BEAUMONT, Texas — United Rentals Inc. announced that it has entered into a definitive asset purchase agreement to acquire National Pump, one of the largest specialty pump rental companies in North America. Under the terms of the agreement, United Rentals will also acquire GulfCo, a two-branch general rental business also based in Texas. The combined purchase price for the assets is approximately $780 million. The board of directors of United Rentals and the partners of National Pump unanimously approved the proposed transaction.
With National Pump, United Rentals enters the pump rental segment, one of the largest and highest growth specialty markets, said the company. United Rentals noted that it has been expanding its specialty businesses, and this acquisition provides another significant product line with attractive margins and returns. In addition, National Pump will offer significant cross-selling opportunities with both United Rentals’ and National Pump’s customer bases.