United Rentals Inc. has completed its acquisition of BlueLine Rental from Platinum Equity for approximately $2.1 billion in cash.
According to the Stamford-based company, the acquisition expands United Rentals’ equipment rental capacity in many of the largest metropolitan areas in North America, including both U.S. coasts, the Gulf South and Ontario. BlueLine is headquartered in The Woodlands, Texas, and brings more than 46,000 rental assets, 114 branch locations and about 1,700 employees into the United Rentals operations.
As a result of the acquisition, United Rentals updated its full-year 2018 guidance with the addition of $120 million of total revenue and $50 million of adjusted earnings before interest, tax, depreciation and amortization to the guidance previously released on Oct. 17.
“We’re excited to welcome BlueLine to the United Rentals family and we’re confident that the strategic and financial merits of the acquisition will benefit our customers, shareholders and employees,” said Michael Kneeland, CEO of United Rentals. “Moreover, we look forward to leveraging our extensive integration capabilities to ensure that we generate the greatest value from combining our companies. Together, our enhanced scale and operating efficiencies reinforce our leadership position in the North American market and support our focus on driving long-term value creation.”