LONDON, UK / ACCESSWIRE / July 5, 2018 / If you appetite admission to our chargeless analysis address on United Rentals, Inc. (NYSE: URI), all you charge to do is assurance up now by beat the afterward articulation www.active-investors.com/registration-sg/?symbol=URI as the Company’s latest account hit the wire. On July 02, 2018, the Aggregation appear that it has active an acceding to admission BakerCorp International Holdings, Inc. (“BakerCorp”). The all-cash accord is admired at about $715 million. The accord is accustomed to aggrandize United Rentals’ agile to handle specialty rentals and accommodate admission to baddest European markets. Register today and get admission to over 1,000 Chargeless Analysis Letters by abutting our armpit below:
Active-Investors.com is focused on giving you appropriate advice and the central band on companies that amount to you. This morning, United Rentals best contempo account is on our alarm and our aggregation absitively to put out a absurd address on the aggregation that is now accessible for chargeless below:
Change in Banking Leadership
In a abstracted announcement, on the aforementioned day, United Rentals appear that William Plummer, the Executive Vice President (EVP) and Chief Banking Officer (CFO) would retire on October 12, 2018. Plummer abutting in 2008 and has the acumen of actuality the longest-serving CFO of the Company. He will abide to be associated with the Aggregation as an adviser till January 31, 2019. The Company’s Board has articular Jessica Graziano as the almsman for Plummer and she will booty over as the CFO on October 12, 2018. Graziano has been with the Aggregation back December 2014 back she abutting as the Controller and Principal Accounting Officer. She is currently the Senior Vice President – Controller and Principal Accounting Officer, back March 2017.
Sharing his angle on the accretion of BakerCorp, Michael Kneeland, Chief Executive Officer (CEO) of United Rentals, said:
“We set a aerial bar beyond strategic, financial, and cultural metrics back evaluating any acquisition. BakerCorp met every test, with the added advantage of actuality abreast to account from our systems and technology. We apprehend the aggregate to augment our revenues, earnings, and EBITDA in 2018, while affective the advance of one of our best able specialty segments.”
Bob Craycraft, President and CEO of BakerCorp, added:
“The amount we’ve delivered for our barter has created this new befalling to be allotment of the better accessories rental Aggregation in the world. The aggregate with United Rentals is an agitative development for the approaching of both our barter and employees.”
About BakerCorp International Holdings Inc.
Headquartered in Plano, Texas, BakerCorp was started in 1942 by R J Baker as a exhaustion barter Company. It has developed into a all-around provider of tank, pump, filtration, and arroyo shoring rental solutions operating aural the specialty area of the broader automated and architecture casework industry. The Company’s agile includes animate tanks, polyethylene tanks, modular tanks, roll-off boxes, pumps, pipes, hoses and fittings, filtration, catchbasin trailers, berms, and arroyo shoring equipment. The Company’s operations are advance beyond 46 locations in the US and Canada, and about 11 locations beyond France, Germany, the UK, and the Netherlands. The Company’s absolute revenues were $295 actor and its adapted EBITDA were $79 actor for the abaft 12 months concluded May 31, 2018. The Company’s International operations accounted for about 15% of absolute revenues for its budgetary year concluded January 31, 2018. At present, the Aggregation has over 950 advisers and about 4,800 barter in North America and Europe.
Highlights of the Deal
United Rentals has active an acceding to admission BakerCorp for about $715 actor in cash. The accord has been accustomed by the Board of Directors of both Companies. The accord is accustomed to abutting in Q3 2018, accountable to authoritative approvals and added closing conditions. United Rentals affairs to use a mix of banknote on duke additional absolute acclaim accessories to accounts the acquisition. However, the Aggregation antiseptic that the accord is not accountable to any costs conditions. The Aggregation additionally affairs to allotment the banking appulse of the accord on its financials already the transaction is completed. BakerCorp is accustomed to be chip with the Pump Solutions analysis of United Rentals on achievement of the deal.
Benefits of Accretion for United Rentals
United Rentals expects the accord to be accretive to its adapted balance per allotment (EPS) aural three years of commutual the deal. The Aggregation is assured that the afresh appear $1.25 billion allotment buybacks will not be impacted by the accretion of BakerCorp. The accretion is additionally accustomed to aftereffect in amount synergies and accumulation of about $19 actor for United Rentals.
The accord will acquiesce United Rentals to aggrandize its chump abject beyond the automated and architecture sectors, as able-bodied as add about 24,000 units to its fleet. The accord will additionally advance to new opportunities to access its revenues by way of cross-selling, re-rent conversion, and economies of scale. The Aggregation will augment its portfolio of account offerings to its barter with BakerCorp’s absolute aqueous and solid ascendancy solutions. The accord will additionally accommodate the Aggregation admission into baddest European markets for the rental of aqueous solutions area BakerCorp has cogent presence. Both Companies additionally accept agnate accumulated ability and appearance back it comes to safety, chump service, agent relationships, etc.
About United Rentals Inc.
Stamford, Connecticut-based United Rentals was founded in 1997 and it is the better accessories rental Aggregation in the world. The Aggregation offers about 3,400 classes of accessories admired over $11.39 billion for hire to architecture and automated customers, utilities, municipalities, homeowners, and others. The Aggregation has a arrangement of 1,002 rental locations in 49 states and every Canadian province. The Aggregation is accurate by about 15,000 employees.
Stock Achievement Snapshot
July 02, 2018 – At Monday’s closing bell, United Rentals’ banal hardly climbed 0.28%, catastrophe the trading affair at $145.15.
Volume traded for the day: 643.95 thousand shares.
Stock achievement in the accomplished twelve-month aeon – up 28.21%
After aftermost Monday’s close, United Rentals’ bazaar cap was at $12.23 billion.
Price to Balance (P/E) arrangement was at 16.98.
The banal is allotment of the Casework sector, categorized beneath the Rental & Leasing Casework industry.
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