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Featured Company News - United Rentals Expands Power and HVAC Fleet With Acquisition of Portable Power Assets

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LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for United Rentals, Inc. (NYSE: URI), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=URI. The Company announced on August 22, 2017, that it has acquired power equipment assets, primarily mobile rental generator sets, from Cummins Inc. (NYSE:CMI). The Company will start serving the needs of former Cummins rental customers and has made its newly acquired rental equipment available immediately. United Rentals is the largest equipment rental Company in the world. The Company has an integrated network of 960 retail locations in 49 states and every Canadian province. The Company's about 13,700 employees serve construction and industrial customers, utilities, municipalities, homeowners, and others. For immediate access to our complimentary reports, including today's coverage, register for free now at:


Discover more of our free reports coverage from other companies within the Rental & Leasing Services industry. Pro-TD has currently selected Willis Lease Finance Corporation (NASDAQ: WLFC) for due-diligence and potential coverage as the Company reported on August 08, 2017, its financial results for Q2 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Willis Lease Finance when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on URI; also brushing on WLFC. Go directly to your stock of interest and access today's free coverage at:



The Announcement

Under the terms of the agreement, United Rentals will acquire Cummins' mobile retail generator fleet, which ranges from 150 Kilowatts to 2 Megawatts in output. Hence, to maintain customer and fleet continuity, a small section of Cummins' employees in the US and Canada have joined United Rentals. United Rentals views this agreement as a step to fulfill the strong demand of power solutions across North America. The Company expects this strategic expansion of its fleet to ensure greater availability and a larger customer service organization.

About Cummins Inc.

Cummins, a global power leader, is a corporation of complementary businesses that design, manufacture, distribute, and service diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions, and electrical power generation systems. Headquartered in Columbus, Indiana, USA, Cummins currently employs over 55,400 people worldwide and delivers services to customers in over 190 countries and territories through a Company-owned and independent distributor network of about 7,400 dealer locations. Cummins reported net earnings of $1.39 billion on sales of $17.5 billion in the full year 2016.

The Company expects this move to benefit the mutual customers of both Companies. Customers would have access to United Rentals' extensive rental fleet and Cummins will place a greater degree of focus on delivering the highest quality products and support to its customer base. Cummins expects to continue improving the experience for its customers through this collaboration. United Rentals Power and HVAC are a leader in delivering Power and HVAC products and solutions across North America through 58 strategic locations. The Company delivers custom and turnkey solutions for commercial, industrial, and government customers, with one of the best safety records in the industry.

The Neff Corp. Acquisition

United Rentals recently announced on August 16, 2017, that it has entered into a definitive agreement to acquire The Neff Corp. ("Neff") for $25 per share in cash, representing a total purchase price of about $1.3 billion. The transaction is expected to be immediately accretive to cash EPS and free cash flow. For the full year 2017, Neff expected to generate $2,207 million of adjusted EBITDA at a 49.5% margin on $419 million of total revenue. As of June 30, 2017, Neff has about $867 million of fleet based on original equipment cost.

Last Close Stock Review

On Thursday, August 24, 2017, the stock closed the trading session at $107.61, slightly falling 0.99% from its previous closing price of $108.69. A total volume of 973.52 thousand shares have exchanged hands. United Rentals' stock price soared 32.92% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 1.92%. The stock is trading at a PE ratio of 15.63. At Thursday's closing price, the stock's net capitalization stands at $9.09 billion.

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SOURCE: Pro-Trader Daily