United Rentals Inc. has completed its previously announced acquisition of Neff Corp. for a total purchase price of approximately $1.3 billion. The purchase was funded primarily through newly issued unsecured debt.
The acquisition will augment the company’s earthmoving capabilities and efficiencies of scale in key market areas, particularly fast-growing southern geographies, and is expected to lead to attractive revenue synergies through the cross-selling of United Rentals’ broader fleet, including its specialty offerings. The assets acquired with Neff include approximately $867 million of fleet based on original equipment cost and 69 branch facilities serving end markets in the infrastructure, nonresidential, energy, municipal and residential construction sectors.
For more information, visit www. unitedrentals.com or call (203) 618-7122