RSC Holdings Inc. (NYSE: RRR), one of the largest equipment rental providers in North America, today announced it has entered into an agreement to purchase the operations and certain operating assets of Independent Aerial Equipment (“IAE”) of Elizabeth, N.J. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to close in July. IAE, a privately held company, is a leading provider of aerial equipment including articulated and telescopic boom lifts, scissor lifts, forklifts and other rental equipment. IAE has approximately $50 million in fleet at original cost, serving industrial and non-residential construction customers located in New York, New Jersey, Connecticut, Maryland, Virginia, Delaware and Pennsylvania. “The acquisition of Independent Aerial Equipment expands RSC’s footprint in a major market, consistent with our commitment to strategic growth in attractive geographic areas,” said Erik Olsson, RSC president and chief executive officer. “The IAE locations in the Northeast complement our existing national footprint, and the addition of their dedicated employees and customers provides us tremendous opportunity for growth. We are very excited to have this quality company and team join the RSC ranks.” About RSC Holdings Inc. (NYSE: RRR) and RSC Equipment Rental, Inc. Based in Scottsdale, Ariz., RSC Holdings Inc. is the holding company for the operating entity, RSC Equipment Rental, Inc. (“RSC”), which is a premier provider of rental equipment in North America, servicing the industrial, maintenance and non-residential construction markets with $2.4 billion of equipment at original cost. RSC offers superior equipment availability, reliability and 24x7 service to customers through an integrated network of 446 rental locations across 41 states in the United States and three provinces in Western Canada. Customer solutions to improve efficiency and reduce cost include the proprietary Total Control® rental management system, Mobile Tool Rooms TM, and on-site rental locations. With over 4,300 employees committed to safety and sustainability, RSC delivers the best value and industry-leading customer service. All information is as of March 31, 2011. Additional information about RSC is available at www.RSCrental.com. Forward-Looking Statements This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current information and expectations, which involve a number of risks and uncertainties that could cause actual results to differ materially. The forward-looking statements herein include statements regarding the company’s ability to consummate the proposed transaction and the company’s plans and expectations regarding expanding its footprint, future results, end-market outlook, business strategy, and objectives of management for future operations. In particular, these risks and uncertainties include the inability to consummate the proposed transaction, difficulties in integrating the acquired operations; the possibility that expected synergies will not be realized; and the uncertainty of business/economic conditions and growth trends in the equipment rental industry. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “will,” “expand,” “establish,” “expect,” “intend,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology and expressions to identify forward-looking statements. Therefore the company cautions you to not unduly rely on these forward-looking statements and encourages you to understand the risks and uncertainties described herein and as stated in the “Risk Factors” and elsewhere in the company’s Annual Report on Form 10-K as filed with the United States Securities and Exchange Commission.
More from Press Releases
NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling
The Supreme Court rules that previous congressional action forbidding states from legalizing sports betting was unconstitutional.
Walmart CEO: 'We Are Transforming Globally' With Flipkart
On its investor call on Wednesday morning, Walmart discusses the Flipkart deal.
March 24 Full-Day Course Offering: Professional Approach to Trading SPX
OptionsProfits, the CBOE, and Option Pit are hosting a class on March 24 that covers a wide variety of methods to trade the S&P 500.