Home Construction United Rentals buys Neff Rental for $1.3 billion

United Rentals buys Neff Rental for $1.3 billion

United Rentals Inc., a Stamford-headquartered construction equipment rental company, has announced its acquisition of Neff Rental, a Miami-based equipment rental company, in a $25 per share in cash transaction totaling approximately $1.3 billion.

According to a statement released by the companies, the transaction is expected to close in the fourth quarter. Prior to approving the deal, Neff Rental terminated its previously announced merger agreement with H&E Equipment Services Inc., with United Rentals paying H&E a termination fee of approximately $13.2 million.

“The acquisition of Neff is a significant opportunity for us to augment long-term returns for our investors and build value for our customers and employees,” said Michael Kneeland, president and CEO of United Rentals. “We expect this transaction to be accretive to both our financial performance and customer-facing operations, with an important cross-selling component.”

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

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