United Rentals Acquires Blue Mountain Equipment Rental Corporation
December 02 2011 - 1:58PM
Business Wire
United Rentals, Inc. (NYSE: URI) today announced that it has
acquired the assets of Blue Mountain Equipment Rental Corporation,
a company with locations in Pennsylvania and West Virginia. Blue
Mountain is almost exclusively focused on the industrial segment
with a special concentration on oil and gas exploration in the
Marcellus Shale region, the area of one of the largest natural gas
discoveries in the United States.
“The Blue Mountain acquisition further deepens our position in
the expanding energy sector,” said Michael J. Kneeland, chief
executive officer. “Like our three other acquisitions this year,
Blue Mountain provides an attractive growth opportunity in a
burgeoning segment. The management and employees of Blue Mountain
bring industry expertise that will be valuable as well as a passion
for outstanding customer service. We welcome them to the United
Rentals family.”
About United Rentals
United Rentals, Inc. is the largest equipment rental company in
the world, with an integrated network of 541 rental locations in 48
states and 10 Canadian provinces. The company's approximately 7,500
employees serve construction and industrial customers, utilities,
municipalities, homeowners and others. The company offers for rent
approximately 2,900 classes of equipment with a total original cost
of $4.26 billion. United Rentals is a member of the Standard &
Poor's MidCap 400 Index and the Russell 2000 Index® and is
headquartered in Greenwich, Conn. Additional information about
United Rentals is available at unitedrentals.com.
Forward Looking Statements
This press release contains "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, but are not
limited to, statements regarding the anticipated benefits of the
transaction and other statements identified by words such as “may,”
“will,” “intend,” “estimate,” “should,” “expect” or similar
expressions. These statements are based on the current expectations
and beliefs of management, and are subject to uncertainty and
changes in circumstances, including, but not limited to, our
ability to timely and successfully integrate Blue Mountain’s
operations into our operations, and the parties' performance of
their obligations under the purchase agreement. Acquisitions
typically entail many risks including, among other things,
unrecorded or undisclosed liabilities not subject to
indemnification or reimbursement by the seller. Any forward-looking
information is not a guarantee of future performance and actual
results may vary materially from those expressed or implied by the
statements herein, due to changes in economic, business,
competitive, technological, strategic and/or regulatory factors, as
well as factors affecting our combined operations and
businesses.
For a more complete description of these and other possible
risks and uncertainties as such risks and uncertainties relate to
United Rentals, please refer to our Annual Report on Form 10-K for
the year ended December 31, 2010, as well as to our subsequent
filings with the SEC. Our forward-looking statements contained
herein speak only as of the date hereof, and we make no commitment
to update or publicly release any revisions to forward-looking
statements in order to reflect new information or subsequent
events, circumstances or changes in expectations.
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