Stamford-based United Rentals Inc. has acquired BakerCorp International Holdings Inc. for $715 million in cash.
Headquartered in Seal Beach, California, BakerCorp is a provider of tank, pump, filtration and trench shoring rental solutions for industrial and construction applications. The company has approximately 950 employees at 46 locations across the U.S. and Canada and 11 locations in France, Germany, the Netherlands and the U.K., as well as a customer base of more than 4,800. For the 12-month period ending May 31, BakerCorp generated $79 million of adjusted EBITDA at a 26.9 percent margin on $295 million of total revenue.
“We”™re very pleased to announce an agreement to acquire BakerCorp, an expert in fluid solutions and a highly regarded, customer-focused operation,” said Michael Kneeland, CEO at United Rentals. “We”™re gaining a terrific team that shares our strong commitment to safety and customer service and operations that complement our North American pump and trench offerings. This transaction will also be our company”™s first experience in Europe, where BakerCorp has established an attractive, fast-growing business with significant future opportunity.”
